Impact of Board Diversity on Dividend Policy of listed Deposit Money Banks in Nigeria

AFRAG040

Impact of Board Diversity on Dividend Policy of listed Deposit Money Banks in Nigeria

Kabir Ibrahim kabiribrahim22@gmail.com

+2348060507245

Department of Social Sciences & Administration

Bayero University, Kano.

Ishaq Alhaji Samaila PhD ishaqabuhaidara@gmail.com Department of Accounting Bayero University, Kano.

Abstract

The study examined the relationship between board diversity and dividend policy of listed Deposit Money Banks in Nigeria. To achieve this objective, a descriptive and explanatory research design was employed, and the data were generated from annual financial report and accounts of 12 sampled firms from 2012 to 2020. Descriptive statistics and regression analysis were used in data analysis. The study found that gender diversity had a positive but statistically insignificant impact on dividend policy of listed Deposit Money Banks in Nigeria, while foreign diversity had negative and statistically significant impact on dividend policy. Profitability measured by return of asset and firm size had a positive and statistically significant impact on dividend policy of listed DMB’s while firm age had a negative and statistically significant impact on dividend policy. The study recommends that board diversity should go beyond gender and foreign classification, other diversity features should be encouraged. This will foster favourable effects on dividend policy to address agency problems.

Keywords: Gender, Foreign, Dividend policy, Deposit Money Banks

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