The study looked at how cash dividends and retained earnings affect stock prices in different types of companies in Pakistan. They analyzed data from 2009 to 2013 and found that in low-growth firms, higher dividends and retained earnings led to lower stock prices. In contrast, in high-growth firms, higher dividends were linked to lower stock prices, but higher retained earnings were associated with higher stock prices. This research adds new insights to the understanding of how these factors influence stock prices in Pakistan.