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Please use this identifier to cite or link to this item: http://bsuir.bsum.edu.ng:8080/jspui/handle/11409/679

Title: DETERMINANTS OF DIVIDEND POLICY OF LISTED AGRICULTURAL FIRMS IN NIGERIA
Authors: JOSHUA, GEORGE SUNDAY
Keywords: DIVIDEND, POLICY
Issue Date: Mar-2019
Publisher: NONE
Citation: NONE
Abstract: This study investigated the factors determining the dividend policy of listed agricultural firms in Nigeria between the year 2011and 2017. The study considered the influence of five (5) firm’s factors, which are Profitability, Previous Dividends, Liquidity, Firms’ Size, and Growth Opportunities and examined the relationship between these firm’s factors on the dividend payout ratio of listed agricultural firms in Nigeria. The study adopted the pooled regression method and the panel data estimation techniques and the test between the Ordinary Least Square (OLS) and the Fixed Effect Model was carried out. The results of the study indicate a positive relationship between dividend payout ratio and each of previous dividends, liquidity and firms’ size, but a negative relationship between profitability and growth opportunities. The results show that profitability, and previous dividends determine the dividend decision of listed agricultural firms in Nigeria. Finally, the study recommended the need for mangers to pay attention to liquidity alongside profitability and previous dividends and stabilize dividend payment in order to reduce both agency conflicts and investors’ uncertainties. The study also recommended the need for the government to ensure compliance with company law on dividend payment by listed agricultural firms and other corporate entities in Nigeria.
URI: http://bsuir.bsum.edu.ng:8080/jspui/handle/11409/679
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