BOARD ATTRIBUTES AND DIVIDEND PAYOUT POLICY

ABSTRACT

This study delves into the intricate relationship between board attributes and dividend payout policy within the corporate landscape. It investigates how various facets of board composition, including board size, diversity, and meeting frequency, influence the strategic decisions companies make regarding the distribution of dividends to their shareholders. The study examined the influence of corporate board attributes on dividend policy decision in thirteen Nigerian banks for the period 2015-2022. The independent variable, corporate board attributes, was understudy by five variables (board size, board diversity, board tenure, financial expertise and board meetings). Secondary data from the annual report of the sample banks have been analyzed using the panel multiple regression. This research emphasizes the importance of adopting a sophisticated and strategic approach to both corporate governance and dividend policy. It elucidates that these characteristics of the board are just components within a broader governance framework where a multitude of other factors also exert their influence. Regardless, board attributes shouldn’t be overlooked in attaining a company’s dividend distribution policy due to the influence it wields on it.