000			02523nam a22001457a 4500
008			221027b ||||| |||| 00| 0 eng d
100			_aOLOWOJARE, Boluwatife David _99583
245			_aThe Impact of Firm Characteristics on the Dividend policy of Listed Consumer Goods Manufacturing Companies in Nigeria
250			_aDr. Onichabor Pius
260			_aIbafo _bAccounting _c2022
300			_axi;54pgs.
520			_aABSTRACT In finance, dividend payout has long been a contentious topic. In the past, many researchers have proposed theoretical models to describe what criteria managers should consider when deciding whether or not to pay a dividend. The objective of this study was therefore to examine the impact of firm characteristics on the dividend policy of listed consumer goods manufacturing companies in Nigeria. Using ex-post facto research design, the estimated population size population consists of all 20 consumer goods manufacturing companies while a sample of 10 randomly selected consumer goods manufacturing companies was derived using the simple random sampling technique. Independent variables that were used in this study included Profitability, financial leverage, liquidity, and firm size and dependent variable was Dividend Payout Ratio. The data was subjected to linear regression analysis to test the research hypotheses. The probability level was set up at 0.05 significance. The result of the Linear Regression Analysis hence indicates a significant and direct positive relationship between profitability and dividend payout of listed consumer goods in Nigeria with a significance level of 0.031 (p<0.05), a very weak negative nonsignificant correlation between financial leverage (LEV) and Dividend Payout Ratio (DPR) with a significance level of 0.650 (p<0.05), a very weak negative and insignificant correlation between Liquidity (LIQ) and Dividend Payout Ratio (DPR) with a significance level of 0.662 (p<0.05), a significant positive correlation between firm size (SIZ) and Dividend Payout Ratio (DPR) with a significance level of 0.015 (p<0.05). This study however recommends that Managers of consumer goods manufacturing firms in Nigeria should ensure that they have well- structured dividend policies in place as this will make the company shares attractive to investors and however lead to increased stock prices and enhanced profitability. Keywords: Dividend, Liquidity, Profitability, Financial Leverage
650			_aSocial Science _vAccounting _98705
942			_cTHS
999			_c6952 _d6952