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Majesco share hits all-time high on board's nod to 19,480% dividend

Share of Majesco opened with a gain of 4.66% at Rs 1,019 today , also a fresh all-time high

twitter-logoBusinessToday.In | December 15, 2020 | Updated 13:16 IST
Majesco stock hits all-time high on board's nod to 19,480% dividend
Majesco share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Majesco share hit all-time high today after the firm said its board had cleared the payment of interim dividend at Rs 974 per share or 19,480% compared to face value of Rs 5. Share of Majesco opened with a gain of 4.66% at Rs 1,019 today , also a fresh all-time high. Majesco share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 149.23% in one year and risen 161.35% since the beginning of this year.

In a month, the stock has gained 7.75%. Market cap of the firm rose to Rs 2,995.75 crore

"The board of directors at its meeting held on December 15, 2020, approved payment of interim dividend at the rate of 19,480 percent 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 BSE filing.

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The interim dividend payout will be for an amount of Rs 2,788.4 crore on a shareholder base of 2,85,77,939 shares.

The record date for the dividend is December 25 and the ex-dividend date is December 23. The earliest dividend payout, as per the company, will be on December 30.

Majesco is a provider of insurance software, consulting and services for insurance industry. The company operates through the software solutions provider for the insurance industry segment. The company has presence in the United States, Canada, the United Kingdom, Malaysia, Thailand, Singapore, New Zealand and India.

Meanwhile, Sensex was trading 360 points lower at 45,8923 and Nifty fell 99 points to 13,458 in afternoon session. Yesterday, Sensex ended 154 points higher at 46,253 and Nifty gained by 44 points to 13,558.

Share Market News Live: Sensex falls 250 points, Nifty at 13,480; Titan, Nestle, Infosys, Airtel top losers

By Aseem Thapliyal

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