NEPSE Asks For Clarification From Prabhu Bank Limited (PRVU) Regarding Dividend Proposal

Nepal Stock Exchange (NEPSE) has asked for clarification regarding Prabhu Bank's unveiling of the dividend proposal.

Prabhu Bank Limited (PRVU) has proposed a 12.63% dividend for the fiscal year 2077/78. The 228th meeting of the board of directors held on Kartik 23 decided to distribute the dividend on the paid-up capital of Rs. 11.34 Arba. 12% bonus shares worth Rs 1.36 Arba and 0.63% cash dividend (for tax purposes) have been proposed.

The company breached the securities listing rules by holding a board meeting during market hours to propose the yearly dividend. As such, the company has been ordered to present a clarification within 7 days.