Female Directors and Dividend Payout: Evidence from Listed Deposit Money Banks in Nigeria

AFRAG058

Female Directors and Dividend Payout: Evidence from Listed Deposit Money Banks in Nigeria

Muhammad Salisu Bayero University Kano Telephone: 08036639130

Email: muhdsalisu5537@gmail.com Ishaq Alhaji Samaila

Bayero University Kano Telephone: 08039643788

Email: ishaqabuhaidara@gmail.com

Abstract

Female directors are in most cases independent and better in protecting shareholder’s interests. Shareholders and potential investors consider dividend payout as beneficial since it is a stream of income. Hence, any of the board decisions concerning dividend payment is valuable to shareholders. This study will examine the effect of female directors on dividend payout of listed Deposit Money Banks (DMBs) in Nigeria. The study will use secondary data from annual reports and accounts of listed DMBs for a period of 10 years (2009 - 2018). The data will be analyzed using descriptive statistics, correlation and regression analyses. The result of this study will provide more explanation about the influence of female directors on board decisions particularly decisions concerning dividend payment. In addition, the study will guide shareholders’ decision on the appointment of board membership. More so, authorities like CBN will benefit from this study while formulating policies regarding gender mix in the board of Nigerian Deposit Money Banks.

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