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

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.

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