IT-company,
Majesco has announced FAQs on its Rs2788.4cr interim dividend for the financial year FY21. Earlier this week, Majesco stated that this interim dividend payout translates on a shareholder base of 28.577 million shares.
At around 2.09 pm, Majesco was trading at Rs970.95 per piece up 0.37% on Sensex. The stock has gained to an intraday high of Rs974 per piece.
Here is the list of faqs announced by Majesco as per the regulatory filing:
The Board of Directors of the Majesco Limited (the Company) at its meeting held on Tuesday, December 15, 2020, have approved an Interim Dividend of Rs. 974/- (19480%) per equity share of the face value of Rs. 5/- each for the financial year 2020-2021.
The said Interim Dividend will be payable to those shareholders whose names appear in the Register of Members of the company or in the records of the Depositories as beneficial owners of the shares as at the close of business hours on FRIDAY, December 25, 2020 (Record date).
Anybody who is receiving dividend should note that the TDS/Tax implication is in line with their applicable individual tax rates.
Shareholders should note that as per the revised provisions of the Income Tax Act, 1961 (“the Act”), dividends paid or distributed by a company after April 1, 2020, are taxable in the hands of the shareholders. The Company shall therefore be required to deduct tax at source at the applicable rates (“TDS”) at the time of making the payment of dividends as and when declared by the Company.