Effect of ownership structure on dividend policy of listed agricultural companies in Nigeria

Abstract

This study examines the effect ownership structure on dividend policy of listed Agricultural companies in Nigeria. The main objective of the study was to examine the effect of ownership structure on dividend policy of listed agricultural companies in Nigeria. The study utilized expost facto research design. Population of the study consisted of all the five (5) Agricultural companies listed on Nigerian Exchange Group as at 31st December, 2022. Census sampling techniques was used because it is possible to study the whole population. Data for this study was secondary source purely from annual reports of listed Agricultural companies in Nigeria. The Data Obtained was analysed using regression. The result of the study reveals that institutional ownership has negative significant effect on dividend policy of listed Agricultural companies in Nigeria. While managerial ownership has positive and significant effect on dividend policy. This study concludes that ownership structure has significant effect on dividend policy of listed Agricultural Companies in Nigeria, where firm characteristics variable has significant effect on dividend policy. The study recommends that management of listed Agricultural companies should encourage top management to acquire more shares in the company.