Record Details

Analysis of Divided Policy and Its Impact on Shareholders Wealth Maximization in Nigerian Firms (A Study of Brewery Industry)

Applied Economics and Finance

View Archive Info
 
 
Field Value
 
Title Analysis of Divided Policy and Its Impact on Shareholders Wealth Maximization in Nigerian Firms (A Study of Brewery Industry)
 
Creator Omodero, Cordelia Onyinyechi
Amah, Kalu Ogbonnaya
 
Description The study evaluated dividend policy and measured its impact on shareholders’ wealth maximization in Nigerian firms (a study of brewery industry). A cross-survey research design was adopted and secondary data extracted from the published annual reports of the firms studied. The statistical tool used was a multi-regression analysis and t-test for hypotheses testing and data analysis with the aid of SPSS version 20. The result in Guinness Nigeria Plc., indicated the irrelevance of dividend policy. From the result, the DPS, EPS and NAPS which were the explanatory variables, had no positive impact on the market value per share (MPS) both collectively and individually. The result from Nigeria Breweries Plc., proved dividend policy is relevant to an extent to which earnings per share and net asset per share are positively affected. The F-ratio was 0.000 which shows a significant positive impact on the MPS. The earnings per share and net asset per share were also significant except the dividend per share which had no impact on the market value per share. The implication is that the growth in stock prices is not always a function of dividend payment.
 
Publisher Redfame Publishing
 
Contributor —
 
Date 2017-07-16
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://redfame.com/journal/index.php/aef/article/view/2542
10.11114/aef.v4i5.2542
 
Source Applied Economics and Finance; Vol 4, No 5 (2017): [In Progress]; 1-8
2332-7308
2332-7294
 
Language eng
 
Relation http://redfame.com/journal/index.php/aef/article/view/2542/2677
 
Rights Copyright (c) 2017 Applied Economics and Finance