The study looked at how dividend payouts affect share prices in the stock market. They used data from the Dar es Salaam Stock Exchange from 2013-2017 and analyzed 65 observations from twelve listed companies. The researchers found that dividend payouts do not impact share prices, but company size and dividend yield do. In simple terms, the size of the company and the dividend yield are more important factors for shareholders to consider when evaluating a company's performance, rather than just looking at its dividend payouts.