Dividend policy impacts market performance of Nigerian manufacturing companies
The article explores how dividend policies impact the wealth of shareholders in Nigerian manufacturing companies. The researchers found that dividend policy significantly affects the market price per share. Specifically, dividend yield has a negative impact on share price, while dividend per share has a positive effect. However, the dividend pay-out ratio does not significantly influence market share price. It is crucial for managers to make optimal decisions regarding the distribution of profits to maximize shareholders' wealth.