IMPACT OF ELECTRONIC DIVIDEND IN NIGERIA FINANCIAL SECTOR

ABSTRACT

The purpose of this study is to determine the effect of e-dividend in Nigeria capital market and banking sector. Data were collected from primary sources. The major data collection instrument is the questionnaire. The data were presented in tables as frequency distribution. In the analysis, the techniques of percentage and frequency were used. In testing the hypothesis, the Z test was applied. The findings indicate that e-dividend payment in the bank has helped in speeding up services to equity holders in the banking industry. From the findings it is clear that computer in Nigeria banks has enhanced prompt calculation and payment of e-dividend to equity holders.The findings also indicate that e-dividend payment in Nigeria banks has generally reduced the stress and problems encountered by equity holders in Nigeria banking industry. From the findings it is clear that Government should provide necessary infrastructural facilities (e.g. electricity supply situation should be improved) necessary for the support of the industry and ensure healthy competition in the financial system. The study recommended Improvement in service delivery. Internal Business Environment should be made favourable to the adoption and payment of e-dividend system, that is, the top management should be supportive and receptive to new idea: business facilities should be able to support the innovation or bank should update and equip them with necessary trainings and facilities to enable them handle the challenge.