Dividend Policy and Performance of Quoted Money Deposit Banks in Nigeria

  • Clifford Ajemije Tuoyo
  • Adepoju Adeoba Asaolu
  • Adebolanle Adekemisola Debo-Ajagunna
  • Niyi Oladipo OLANIYAN
Keywords: Dividend Policy, Banks, Performance, Dividend per share, Earning per Share


The relationship between dividend policy and performance of banks listed on the Nigerian Exchange Group was examined. Secondary data were used, which were extracted from the financial statements of the listed Deposit Money Bank. The study employed descriptive analysis for data analysis; multiple regression. The study revealed significant and positive relationship between earnings per share and dividend per share, positive significant relationship between firm size and dividend per share and also positive significant relationship between return on asset and dividend per share. The study also recommends that since there are positive relationships between corporate performance variables and dividend variables, firms should ensure they have a robust dividend policy in place that will attract investment and improve their profitability. Also, those managers of banks should invest in profitable ventures so as to enhance profitability and build shareholders’ wealth.


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