Srijana Finance Limited (SFFIL) Proposes 14.27% Dividend for FY 2076/77; Why is the trading of the company halted?

Srijana Finance Limited (SFFIL) has proposed a 14.27% dividend for the fiscal year 2076/77.

The 237th meeting of the board of directors held today, i.e. Poush 09, has decided to distribute 13.59% bonus shares and the remaining amount in cash dividend for tax purposes. The paid-up capital of the company is Rs. 84,78,38,880. Thus, the bonus shares are worth Rs. 11,51,95,017 and the cash dividend is worth Rs. 57,59,751.

Note that the dividend will be distributed only after approval by Nepal Rastra Bank and endorsement by the company's upcoming AGM. As of writing, trading of SFFIL is halted in NEPSE until further notice since SFFIL had signed a Memorandum of Understanding (MoU) to get acquired by Sunrise Bank Limited (SRBL) on Magh 8, 2076. Nonetheless, SFFIL's stock price remains frozen at Rs. 210.