IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 10 NO. 1 2024
DOI: https://doi.org/10.56201/ijebm.v10.no1.2024.pg163.179

---

Corporate Board Attributes and Dividend Payout Policy: Evidence from Listed Conglomerate Firms in Nigeria

Muhammad Shehu Garba, Afeez Olatunde Oladele

---

Abstract

The study investigates the effect of corporate board attribute on dividend payout. This study covers all the listed conglomerate firms on the Nigerian stock exchange (as at 2021) and the secondary method of Data collection is used to obtain the annual report of the firms on the stock exchange website, the study covers a 10 years period (2011-2020). The result shows that impact of board size on firm dividend payout is negative and significant at 10%, board composition is positively and insignificantly related to firm dividend payout, board gender diversity is positively and insignificantly related to firm dividend payout, Finally, the result show that Board Meetings (BM) has insignificant and negative impact on firm dividend payout of listed conglomerate companies in Nigeria. It was recommended that government should unify code of corporate governance in to a single document, establishment of a unit within an organization to enforce adherence of corporate codes of ethics, stiff penalties to defaulters and establishment of chartered institute by government for the training of corporate members will go a long way in improving corporate governance practice in corporate organisations.

keywords:

Board composition, Board gender, Board meetings, Board size, dividend payout policy.

---

References:

Abbas, U., Farooq, M. I., Kashif, A. R., Hassan, S., & Scholar, S. M. P. (2021). Effect Of Dividend
Paying Behavior And Board Size And Board Composition On Firm's Performance:
Evidence From Pakistan. Academy of Accounting and Financial Studies Journal, 25(2), 1-
17.

Abdelsalam, O., El-Masry, A., and Elsegini, S. (2008). Board composition, ownership structure
and dividend policies in an emerging market: further evidence from CASE 50. Managerial
Finance, 34(12), 953-964.

Adams, R. B., and Ferreira, D. (2009).Women in the boardroom and their impact on governance
and performance”, Journal of Financial Economics, 94(2), 291-309.

Agrawal, N., & Lakshmi, V. (2020). Board composition and board size impact on financial
performance of the company. International Journal of Public Sector Performance
Management, 6(5), 737-747.

DOWNLOAD PDF

---

Back