Paper Contents
Abstract
This study examines the moderating effect of profitability on managerial and institutional ownership on dividend payout of listed deposit money banks in Nigeria. The study covers the period from 2013 to 2022 and secondary data were used. The population of the study comprises of 14 listed deposit money banks on the Nigerian Exchange Group. Multiple regression was employed using panel correlated corrected standard error and the result revealed that managerial ownership has a significant and positive effect on dividend payout. Institutional ownership though significant revealed a negative effect on dividend payout. The result further reveals that profitability significantly moderate the effect of institutional ownership on dividend payout. The study concludes that when managers hold a larger stake in the bank, they are more inclined to distribute a greater proportion of earnings as dividends. Also, institutional investors prefer banks to reinvest earnings into growth opportunities or maintain a stronger balance
Copyright
Copyright © 2024 Ahmed Yahaya Onumoh. This is an open access article distributed under the Creative Commons Attribution License.
