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Majesco to pay interim dividend of Rs 974 per share, here’s what investors should do

Updated : December 15, 2020 02:54:03 IST

Majesco has announced payment of interim dividend of Rs 974 per share for FY21, the record date for which is December 25. After this dividend dissemination the company will still be left with Rs 103 crore of cash which translates into Rs 36 per share. The company in its interaction with CNBC-TV18 has indicated that they plan to disperse it. Also, they are looking to monetise their real estate holding at Mahape and that should take close to about a year.

To discuss whether one should buy the shares and get the dividend or does it make sense to sell out prior to the dividend, book a capital gain loss, and offset it with the other gains in your portfolio, Jiten Parmar, Co- Founder of Aurum Capital spoke to CNBC-TV18.

Parmar said, “The outcomes will depend on the tax bracket you are in. So somebody who will be in the lower tax bracket should take the dividend and also avail of the capital loss and it could be short-term or long-term depending on their holding and adjust it against their other gains.”

“For somebody in the higher tax bracket, it would make sense to sell the stock before the dividend distribution date in the market.”

To know more, watch this video.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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