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Determinants Of Dividend Policy: A Study Of Selected Listed Firms In Nigeria

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  • Uwuigbe Olubukunola Ranti

    (Department of Accounting, School of Business, College of Development Studies, Covenant University, Ogun State, Nigeria)

Abstract

This study investigated the determinants of dividends policy in the Nigerian stock exchange market. To achieve the objectives of this study, a total of 50 listed firms in the Nigerian stock exchange market were selected and analyzed for the study using the judgmental sampling technique. Also, the corporate annual reports for the period 2006-2011 were used for the study. The paper was basically modeled to examine the effects of financial performance of firms, firm size, financial leverage and board independence on the dividend payout decisions of listed firms operating in the Nigerian stock exchange market using the regression analysis method. The study in its findings observed that there is a significant positive relationship between firms’ financial performance, size of firms and board independence on the dividend payouts decisions of listed firms in Nigeria.

Suggested Citation

  • Uwuigbe Olubukunola Ranti, 2013. "Determinants Of Dividend Policy: A Study Of Selected Listed Firms In Nigeria," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 17(1), pages 107-119, May.
  • Handle: RePEc:but:manage:v:17:y:2013:i:1:p:107-119
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    Citations

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    Cited by:

    1. Nabaraj Adhikari, Ph.D., 2015. "Determinants of Corporate Dividend Payout in Nepal," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 27(2), pages 53-74, October.
    2. Arindam Banerjee & Anupam De, 2015. "Capital Structure Decisions and Its Impact on Dividend Payout Ratio during the Pre- and Post-period of Recession in Indian Scenario: An Empirical Study," Vision, , vol. 19(4), pages 366-377, December.
    3. Daniel Ofori-Sasu & Joshua Yindenaba Abor & Achampong Kofi Osei, 2017. "Dividend Policy and Shareholders’ Value: Evidence from Listed Companies in Ghana," African Development Review, African Development Bank, vol. 29(2), pages 293-304, June.
    4. Nabaraj Adhikari, Ph.D., 2015. "Determinants of Corporate Dividend Payout in Nepal," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 27(2), pages 1-22, October.
    5. Peter E. Ayunku & Dumani Markjackson*, 2019. "Determinants of Dividend Payout Policy of Listed Corporations in Nigeria," Business, Management and Economics Research, Academic Research Publishing Group, vol. 5(9), pages 134-141, 09-2019.
    6. Dima W. H. Alrabadi & Said S. Al‐Hallaq & Abdullah S. Abu‐Alkhair, 2021. "The dividends behaviour of the Jordanian companies listed in Amman Stock Exchange: Three essays," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3892-3901, July.

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