Shangrila Development Bank (SADBL) Proposes 5.2632% Dividend; Why Did NEPSE Suspend its Trading Today?

Shangrila Development Bank Limited (SADBL) has proposed a 5.2632% dividend for the fiscal year 2076/77.

The 260th meeting of the board of directors held on Falgun 16 has proposed a 5.2632% dividend from the paid-up capital maintained as of Ashad's end, 2077. The paid-up capital as of Ashad's end, 2077 was Rs. 2,60,66,40,400. Since 5% bonus shares and 0.2632% cash dividend are distributed, the bonus shares are worth Rs. 13,03,32,020 and the cash dividend is worth Rs. 68,59,580.

Note that the dividend will only be distributed after approval by Nepal Rastra Bank and endorsement by the company's upcoming 16th AGM.

As of writing, the last day's closing of SADBL is Rs. 217. However, since the company unveiled its dividend news during market hours, NEPSE has halted its trading and demanded clarification. News and announcements that have the potential to affect the stock price can't be published during market hours.