Effect of Ownership Structure on Dividend Policy of Listed Oil and Gas Firms in Nigeria

Authors

  • John Toro GIMBA Department of Banking & Finance, Nasarawa State University Keffi. Nigeria
  • Maureen Nwala Department of Banking & Finance, Nasarawa State University Keffi. Nigeria
  • Madaki Dauda Department of Banking & Finance, Nasarawa State University Keffi. Nigeria

Abstract

The study analyzed the effect of ownership structure on the dividend policy of listed oil and gas corporations in Nigeria from 2011 to 2020. The independent variable, ownership structure, was proxied by managerial ownership, institutional ownership, ownership concentration and foreign ownership. while dividend policy was estimated as dividend pay-out ratio. Secondary data was collected from the annual financial reports of the sampled eight (8) oil and gas firms. Using the panel least square regression, it was found that managerial ownership and ownership concentration exerted a significant and positive influence on dividend pay-out of listed oil and gas firms in Nigeria. while institutional and foreign ownership had insignificant effect on dividend pay-out. The study thus recommended that the oil and gas authorities should aggressively embrace policies that encourage managers to be shareholders.

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Published

2022-08-29

How to Cite

GIMBA, J. T., Nwala, M. ., & Dauda, M. . (2022). Effect of Ownership Structure on Dividend Policy of Listed Oil and Gas Firms in Nigeria. Baze University Journal of Entrepreneurship and Interdisciplinary Studies, 1(1). Retrieved from http://koha.bazeuniversity.edu.ng/index.php/bujeis/article/view/16

Issue

Vol. 1 No. 1 (2022): Baze University Journal of Entrepreneurship and Interdisciplinary Studies

Section

Articles

License

© 2022, Centre for Foundation and Interdisciplinary Studies, Baze University, Abuja

 

Electronic Publication 2022

 

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the copyright owner, Baze University Journal of Interdisciplinary Studies (BUJEIS), Baze University, Abuja.