Dividend policy boosts Nigerian bank share prices, retention ratio hinders
The study looked at how dividend policies affect share prices in Nigerian banks, focusing on GTBank and United Bank for Africa. They used market price, dividend yield, and retention ratio data to test two hypotheses. The results showed that higher dividend yields positively impact share prices, while higher retention ratios have a negative effect. Recommendations included having a strong dividend policy, updating shareholder records regularly, and setting up a body to manage unclaimed dividends.