Dividend Policy and Financial Performance of Listed Conglomerate Companies on the Nigerian Stock Exchange

Dividend Policy and Financial Performance of Listed Conglomerate Companies on the Nigerian Stock Exchange

Author by Dr. Samuel Dada

Journal/Publisher: International Journal Of Innovation, Creativity And Change

Volume/Edition: 14

Language: English

Pages: 645 - 662

Abstract

The dividend policy of any company usually brings conflict between shareholders and management because the shareholders may be interested in receiving more dividends while the managers prefer retention of the profit for expansion. This study looked into the relationship between dividend policy and the ROCE by quoted conglomerate on the Nigerian Stock Exchange. An ex-post facto research design was adopted using the annual reports of all the six listed conglomerates as at 31st December 2017. Multiple regression was employed for data analysis. The probability of the t- statistic for dividend payout, retention ratio, firm size, and leverage were (0.806 > 0.05), (0.124 > 0.05), (0.814 > 0.05) and (0.000 < 0>


Other Co-Authors