Majesco, a software solutions provider for the insurance industry, has approved an interim dividend of 19,480% or Rs 974 per share of a face value of Rs 5 for the financial year 2020-2021.
“We wish to inform you 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 the face value of Rs 5/- each for the financial year 2020-21,” the company said in a release.
The company on Sunday also informed that it has allotted 44,250 fully paid-up equity shares of the face value of Rs 5 each to its 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.
The dividend payout translates to Rs 2,788.4 crore on a shareholder base of 28.577 million shares. The balance cash reserves (approximately Rs 103 crore) will be distributed subject to board and regulatory approvals, the company said.