The Impact of Dividend- Per- Share on Common Stock Returns: A Re-Examination | International Journal of Managerial Studies and Research


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  DOI Prefix   10.20431


 

International Journal of Managerial Studies and Research
Volume 2, Issue 8, 2014, Page No: 75-79

The Impact of Dividend- Per- Share on Common Stock Returns: A Re-Examination

Abdulkarim Garba Ph.D 1

1. Department of Business Management, Faculty of Arts, Management and Social Sciences, Federal University, Dutsin-ma, Dutsin-ma, Katsina State, Nigeria

Citation : Abdulkarim Garba Ph.D, The Impact of Dividend- Per- Share on Common Stock Returns: A Re-Examination International Journal of Managerial Studies and Research 2014 , 2(8) : 75-79

Abstract

Studies on dividend policy are usually centered on two related issues. The first issue deals with how stock prices are affected by dividend policy. The second issue is on whether or not dividend policy affects the shareholders' wealth. No study was conducted to discover the relationship between common stock returns and dividend-per-share in Nigeria. Thus, this study is an attempt to discovering the type of the relationship existing between common stock returns of some selected manufacturing firms and dividendper-share in Nigeria. The study used data generated over 13-year period from ten sampled manufacturing firms. Using both linear and quadratic polynomials models, the study came up with two highly significant common stock return valuation models that can be used by both stockholders and common stock analysts operating within the Nigerian capital market


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