The company on Tuesday said its board has approved payment of interim dividend at the rate of Rs 974 per equity share for the financial year 2020-21.
About Company
Majesco Limited was incorporated as Minefields Computers Private Limited on June 27, 2013 in the state of Maharashtra.
It was converted into a public limited company on December 22, 2014.
Pursuant to Scheme of Arrangement between Mastek Limited, Majesco Limited and Majesco Software and Solutions India Private Limited as approved by Hon’ble High Court of Bombay and Hon’ble High Court of Gujarat, the name of the company was changed to Majesco Limited on June 12, 2016.
Dividend date
The ex-dividend date would be on 23rd December, record date of dividend will be on 25th December and the earliest dividend payout would be on 30th December.
Total Divided
This interim dividend payout translates to an amount of Rs 2,788.4 crore on a shareholder base of 28.577 million shares.
The balance cash reserves estimated at Rs 103 crore will be distributed subject to board and regulatory approvals.
Company’s Financial
In the second quarter ending September 30, the company recorded 113.9% growth in its operating profit to ₹30 crore.
Past Events
Earlier, company has announced a buyback of 7.47 million shares for Rs 845 per share amounting to around Rs 631 crore.
In July this year, Majesco had signed a definitive agreement to be acquired by Thoma Bravo, L.P. in a transaction valuing the company at $594 million.
Stock Market Impact
Post the announcement; the stock jumped in trade after more than doubling in value in the last 12 months.
The trading volumes on the counter jumped over four-fold with a combined 4.5 million equity shares were changing hands on the NSE and BSE.
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