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Majesco proclaims dividend of Rs 974 per share

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Majesco on Tuesday introduced that its board has authorised fee of an interim dividend of Rs 974 per fairness share for the monetary yr 2020-21. The smallcap insurance coverage expertise agency has mounted December 25 as file date.

Reacting on the event, shares of the firm traded 1.53 per cent greater at Rs 988 at round 9.46 am (IST), whereas the benchmark BSE Sensex traded 0.44 per cent down at 46,049.

“We wish to inform that the Board of Directors of Majesco Limited at its meeting held today i.e. December 15, 2020, 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,” the corporate mentioned in a launch.

This interim dividend payout interprets to an quantity of Rs 2,788.four crore on a shareholder base of 28.577 million shares.

The steadiness money reserves estimated at Rs 103 crore will likely be distributed topic to board and regulatory approvals, the corporate mentioned.

In one other improvement, the corporate on Sunday knowledgeable bourses that it has allotted 44,250 absolutely paid-up fairness shares of face worth of Rs 5 every to staff, who exercised their vested choices underneath the corporate’s worker inventory choice 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 mentioned.

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