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Dividend Policy and Firm Performance: A Study of Listed Firms in Nigeria


  • Uwalomwa UWUIGBE

    () (Covenant University, Ogun State, Nigeria)

  • Jimoh JAFARU

    (Auchi Polytechnic, Edo State, Nigeria)

  • Anijesushola AJAYI

    (Covenant University, Ogun State, Nigeria)


This study basically investigates the relationship between the financial performance and dividend payout among listed firms’ in Nigeria. It also looks at the relationship between ownership structure, size of firms and the dividend payouts. The annual reports for the period 2006-2010 were utilized as the main source of data collection for the 50 sampled firms. The regression analysis method was employed as a statistical technique for analysing the data collected. We find that there is a significant positive association between the performance of firms and the dividend payout of the sampled firms in Nigeria. The study also revealed that ownership structure and firm’s size has a significant impact of the dividend payout of firms too.

Suggested Citation

  • Uwalomwa UWUIGBE & Jimoh JAFARU & Anijesushola AJAYI, 2012. "Dividend Policy and Firm Performance: A Study of Listed Firms in Nigeria," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 11(3), pages 442-454, September.
  • Handle: RePEc:ami:journl:v:11:y:2012:i:3:p:442-454

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    Cited by:

    1. repec:ris:sphecs:0282 is not listed on IDEAS
    2. Jeremiah Mugo Karagu & Bichanga Okibo, 2014. "Financial Factors Influencing Performance of Savings and Credit Co-Operative Organization in Kenya," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 291-302, April.
    3. repec:dug:journl:y:2017:i:1:p:185-195 is not listed on IDEAS

    More about this item


    Financial performance; annual reports; firms; ownership structure; dividend policy; dividend payout; Nigeria;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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