|| MAJESCO || शानदार DIVIDEND Rs 974/- share || क्या आपको शेयर लेना चाहिए ?? सुने मार्किट गुरु से

Majesco's board nods Rs2788.4cr interim dividend for FY21; Payout date set on Dec 30; Stock hits all-time high.

Majesco on Tuesday received the board of directors approval for interim dividend payment at the rate of 19480% which translates to Rs974 per equity share aggregating to Rs2788.4cr for financial year FY21.

In its regulatory filing today, Majesco said, "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 19480% i.e. Rs974 per equity share of the face value of Rs5 each for the financial year 2020-21."

Majesco stated that this interim dividend payout translates to an amount of Rs2788.4cr on a shareholder base of 28.577 million shares.

To ascertain the eligibility of members for the above-mentioned dividend, Majesco has set a record date on December 25, 2020.

Furthermore, Majesco plans to carry out dividend payout at earliest on December 30, 2020.

Notably, excluding interim dividend payment amount, Majesco's balance cash reserves stand at Rs103cr.

"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"

Going forward, Majesco also discussed their future plan in the board meeting held today.

Talking about monetisation of real estate, Majesco said, "This could take longer i.e. over a year and depending on real estate market conditions." Adding Majesco said, "Post monetisation of real estate, the Company will decide the best method for distribution of sale proceeds to shareholders."

At around 10.02 am, Majesco was trading at Rs986.95 per piece up Rs13.35 or 1.37% on Sensex. The stock has hit a 52-week high of Rs1019 per piece during the market opening session.

Видео || MAJESCO || शानदार DIVIDEND Rs 974/- share || क्या आपको शेयर लेना चाहिए ?? सुने मार्किट गुरु से канала Market Breaking News