Majesco, a software solutions provider for the insurance industry, has approved an interim dividend at the rate of 19,480% or ₹974 per share of face value of ₹5. The payout translates to an amount of ₹2,788.4 crore on a shareholder base of 2.857 crore shares. The balance cash reserves of ₹103 crore will be distributed after necessary approvals, Majesco added.