Mumbai Based Insurance Technology firm Majesco declared payment
of interim dividend of Rs974 per equity share on Tuesday for the financial year
2020-2021. These shares carry a face value of Rs5 each. At around 9.46 a.m.
(IST), the company''s shares traded 1.53% higher at Rs 988, while the benchmark
BSE Sensex traded 0.44% lower at 46.049.
The interim dividend approved by the Majesco Board shall be
at the rate of 19,480 percent of the company''s nominal value, Majesco reported
in the stock exchange filing.
The dividend to be paid by Majesco amounts to 2,788.4 crore
entitled on a shareholder base of 28.57 million shares. The balance of cash
reserves after the payment of dividend is valued at 103crore which will be
allocated as subject to board approvals and regulatory approvals.
The share has increased by 149.23 per cent in one year and by
161.35 percent since the beginning of this year. In a month, the stock has
risen 7.75 percent. The company''s market cap rose to Rs 2,995.75 crore.
The interim dividend at Board meeting was approved on 15th
December, the Ex-dividend date is allocated on 23th December, record date for
dividend is decided as 25th December and the earliest pay-out of the
dividend is expected on 30th December.
On Sunday, the company told the stock exchanges that it had
allocated 44,250 fully paid-up shares of the face value of Rs 5 each to
employees who had exercised their rights under the employee share option scheme
(ESOS) of the company. As a result, the paid-up share capital of the firm has
risen to 3,01,96,277 with equity shareholdings totalling to Rs.15,09,81,385.
Apart from the payment announcements, technology hub also
experienced all time high on the stock exchange.