Effect of Corporate Governance on Dividend Policy of Listed Deposit Money Banks in Nigeria

Student: Abdulazeez MUAZ HASSAN (Thesis, 2025)
Department of Accountancy
Kaduna Polytechnic, Kaduna

Abstract

ABSTRACT
This study examines the effect of corporate governance on dividend policy of listed deposit money banks in Nigeria on the Nigerian Exchange Group (NEG) for a period of six years from 2018 to 2023 by examining the effect of four variables. Ex-post facto research design was adopted and the population of the study comprised of twenty-eight deposit money banks out of which a sample of six were selected. Secondary data were collected from annual reports of the sampled deposit money banks. The variables considered in the study include board independence, board size, board gender diversity, board meetings and dividend pay-out ratio. Data were analysed using Panel Data Regression techniques. The results revealed that board size and board gender-diversity have significant effect on dividend policy while board independence and board meetings have insignificant effect on dividend policy. Hence, the study unable to conclude whether corporate governance has effect or not on dividend policy of listed deposit money banks in Nigeria. The board management of deposit money banks needs to be more independence in order to have more significant effect on dividend policy. The board management of deposit money banks should consist of expert who can contribute to the growth of the dividend policy.

Keywords
effect corporate governance dividend policy listed deposit money banks nigeria
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