Majesco announces interim dividend of Rs 974 per share

Majesco has announced payment of interim dividend of Rs 974 per share for FY21.

“We are in the process to distribute all the money that we have received through sales proceeds to the shareholders,” said Farid Kazani, MD of Majesco, in an interview to CNBC-TV18.

“Rs 974 will go as dividend to the shareholders. A balance of Rs 103 crore remains in the company and that’s because it’s part of security premium that cannot be distributed right now. So we will have to take the necessary regulatory approvals to be able to distribute that in the next few months,” he said.

On real estate monetisation, he said, “We will look to lease the real estate property and then sell it which effectively would take close to a year.”