Corporate Board Attributes and Dividend Payout Policy of Listed Deposit Money Banks in Nigeria.

Abstract

The objective of this study is to examine the impact of corporate board attributes on dividend policy of listed deposit money banks in Nigeria. The data was collected from annual reports and accounts of the sampled companies for the period of fifteen years from 2006 to 2015. Data is analyzed by means of descriptive statistics, correlation analysis and panel data regression technique were used to analyze the data using STATA software version 13.00. The variables tested include board size, board composition, audit committee size and managerial ownership. The result found that board size, composition, and ownership structure have significant negative impact on dividend policy of listed DMB’s in Nigeria, and audit committee is statistically insignificant.The study recommends the needs for regulatory agencies to strengthen the corporate governance mechanism especially the power of the audit committee

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