Insurance Technology company, Majesco received the board of directors’ approval for interim dividend payment at the rate of 19480% which translated to Rs974 per equity share for their shareholders.
This took the company based in Mumbai aggregate to Rs2788.4cr for the financial year FY21 on a shareholder base of 28.577 million shares.
“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 company said in a release.
The company on Sunday informed bourses that it has allotted 44,250 fully paid-up equity shares of the 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.
Earlier this noon, Majesco was trading at Rs993 per piece up 2% on Sensex. The stock has hit a 52-week high of Rs1019 per piece during the market opening session. Majesco also outperformed the Sensex which was down 0.2 percent.
“The balance cash reserves estimated at Rs103cr will be distributed subject to board and regulatory approvals,” Majesco said.
On the cash reserve, Majesco further said, “As a first step distribution of balance cash of Rs103cr to the shareholder base of 28.577 million will be carried out as expeditiously as possible subject to board and regulatory approvals”
