{"id":6601,"date":"2021-05-10T15:02:12","date_gmt":"2021-05-10T15:02:12","guid":{"rendered":"https:\/\/manager.openweb.ro\/?p=6601"},"modified":"2021-05-10T15:02:12","modified_gmt":"2021-05-10T15:02:12","slug":"determinants-of-dividend-policy-a-study-of-selected-listed-firms-in-nigeria","status":"publish","type":"post","link":"https:\/\/manager.faa.ro\/?p=6601","title":{"rendered":"Determinants Of Dividend Policy: A Study Of Selected Listed Firms In Nigeria"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6601\" class=\"elementor elementor-6601\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4f83f8f5 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4f83f8f5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7989f36c\" data-id=\"7989f36c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6c1f78bb elementor-widget elementor-widget-text-editor\" data-id=\"6c1f78bb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0<span style=\"color: var(--c-contrast-800); font-size: 16.604px;\">Pages: 107-119<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efce8b7 elementor-widget elementor-widget-text-editor\" data-id=\"efce8b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Introduction<\/strong>. Firms\u2019 decisions relating to dividend policy have been a subject of debate in the financial literatures. Series of theoretical models and explanations describing the factors that managers of organisations should consider when making dividend policy decisions have been developed by academics and researchers. Dividend policy, in the context of this study, relates to firm\u2019s dividend payout policy that managers follow in deciding the pattern and size of cash distribution to shareholders over time.<\/p><p><strong>Aim of the study<\/strong>. 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\u2019 financial performance, size of firms and board independence on the dividend payouts decisions of listed firms in Nigeria.<\/p><p><strong>Keywords:<\/strong> Nigeria; Dividend Payout; Financial Leverage; Financial Performance; Board Independence Annual Report<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc6c23c elementor-align-center elementor-widget elementor-widget-button\" data-id=\"bc6c23c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/manager.openweb.ro\/wp-content\/uploads\/2021\/05\/m17_107_119.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Full text sources<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Introduction. Firms\u2019 decisions relating to dividend policy have been a subject of debate in the financial literatures. Series of theoretical models and explanations describing the factors that managers of organisations should consider when making dividend policy decisions have been developed by academics and researchers. Dividend policy, in the context of this study, relates to firm\u2019s dividend payout policy that managers follow in deciding the pattern and size of cash distribution to shareholders over time.<\/p>\n<p>Aim of the study. 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\u2019 financial performance, size of firms and board independence on the dividend payouts decisions of listed firms in Nigeria.<br \/>\nKeywords: Nigeria; Dividend Payout; Financial Leverage; Financial Performance; Board Independence Annual Report<\/p>\n","protected":false},"author":257,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,22],"tags":[693],"coauthors":[1517],"class_list":{"0":"post-6601","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-21","7":"category-2013-vol-17-issue-1-may","8":"tag-nigeria-dividend-payout-financial-leverage-financial-performance-board-independence-annual-report"},"_links":{"self":[{"href":"https:\/\/manager.faa.ro\/index.php?rest_route=\/wp\/v2\/posts\/6601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/manager.faa.ro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/manager.faa.ro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=\/wp\/v2\/users\/257"}],"replies":[{"embeddable":true,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6601"}],"version-history":[{"count":0,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=\/wp\/v2\/posts\/6601\/revisions"}],"wp:attachment":[{"href":"https:\/\/manager.faa.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6601"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/manager.faa.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=6601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}