Majesco announces interim dividend at Rs 974 per share

Mumbai: Shares of Majesco hit a fresh record high after the information technology company on Tuesday approved an interim dividend of Rs 974 per equity share of face value of Rs 5 each for the financial year 2020-21.

The Board of Directors of Majesco Limited at its meeting held today has approved payment of interim dividend at the rate of 19,480% i.e. Rs 974 per equity share of face value of Rs 5 each for the financial year 2020-21.

This Majesco interim dividend payout translates to an amount of Rs 2788 crore on a shareholder base of 28.577 mn shares, the company said in a BSE filing.

The balance cash reserves estimated at Rs 103 crore will be distributed subject to board and regulatory approvals.

The company has fixed December 25, 2020, as the record date for ascertaining the eligibility of shareholders for payment of interim dividend. The ex-dividend date is December 23.