ABSTRACT

Thisstudyreviewedthe relationship between CEO characteristics, Board structure and Dividend payouts among Deposit money Banks in Nigeria over the period of 10 years (2013 – 2022).  The study’sobjectiveistoexamine the impact of CEO education on dividend payout in deposit money banks in Nigeria, to evaluate the extent to which CEO power influence dividend payout in deposit money banks in Nigeria., to ascertain the relationship between Board size and dividend payout of deposit money banks in Nigeria, and to investigate the extent to which Board diversity impacts dividend payout in deposit money banks in Nigeria. This study conducted regression analysis using the Fully modified ordinary least squares (FM-OLS) method for the variables. Theanalysisofthe data revealed that CEO share ownership, CEO tenure, CEO education, and board independence have no significant impact on dividend payout in Nigeria in the long-run. It also revealed that board size and board diversity have a significant positive influence on dividend payout in the long run in selected quoted deposit money banks in Nigeria. Thestudy recommends that deposit money banks listed in Nigeria should leverage board diversity and size to maximize shareholders' wealth and dividend payouts, implement balanced CEO and board attribute policies, ensure strong corporate board attributes to positively influence dividend payouts, adopt robust corporate governance to influence CEO characteristics and dividend policies, offer competitive compensation to attract and retain high-calibre directors, and align managers' interests with value generation for all stakeholders.