Majesco dividend news: Majesco announces interim dividend at Rs 974 per share | India Business News

NEW DELHI: Insurance technology firm Majesco on Tuesday approved payment of an interim dividend of Rs 974 per equity share for the financial year 2020-21.
“The board of directors at its meeting held on December 15, 2020, approved payment of interim dividend at the rate of 19,480 percent i.e. Rs 974 per equity share of the face value of Rs 5 each for the financial year 2020-21,” the company said in a BSE filing.
Majesco has fixed December 25 as record date and the earliest dividend payout, as per the company, will be on December 30.
This interim dividend payout translates to an amount of Rs 2,788.4 crore on a shareholder base of 28.577 million shares.
“The balance cash reserves estimated at Rs 103 crore will be distributed subject to board and regulatory approvals,” it further mentioned.
Prior to this, Majesco on Sunday informed exchanges that it had allotted 44,250 fully paid-up equity shares of face value of Rs 5 each to employees, who exercised their vested options under the company’s employee stock option scheme.
“Resultantly, the paid-up share capital of the company stands increased to 3,01,96,277 equity shares amounting in aggregate to Rs. 15,09,81,385,” Majesco said in a notification.

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