Barun Hydropower (BARUN) unveils 5.263% Dividend Notice during market hours; NEPSE halts trading and demands clarification

Barun Hydropower Company Limited (BARUN) has proposed a 5.263% dividend for the fiscal year 2076/77.

The meeting of the board of directors held on Mangsir 28 has decided to distribute 5% bonus shares and 0.263% cash dividend (for tax purposes) from the paid-up capital. Note that this dividend will be distributed only after endorsement by the company's upcoming AGM.

The meeting had also decided to organize the company's 17th AGM on Poush 26. As of writing, the company's LTP stands at Rs. 194.

However, since the company published its dividend news during market hours, NEPSE has demanded clarification on the matter. Any news that has the potential to have an impact on the stock price must be updated before or after market hours. Thus, a 3-days ultimatum is given to the company to provide an explanation. Furthermore, NEPSE has halted the trading of BARUN in the secondary market for the same reason.