Queen Janet ENEJO

The aim of this study was to establish the effect and relationship between dividend policy and firm performance among selected quoted firms in Nigeria. In achieving the objective of the study, the study covered companies drawn across manufacturing sector of the Nigerian Stock Exchange Market from the period 2016-2024, evaluating the companies Leverage, Liquidity, Firm Size, and Firm age with two general methods of empirical analysis of data. The preliminary analysis (which comprises of descriptive and correlation analysis) of the data is first conducted to provide background analysis on the data that will generate the initial characterization of the data used in the study. Thereafter, the multiple regressions were conducted using the ordinary least square (OLS) method. The data were analyzed using E-view 0.8 econometric software. The finding was that Leverage (LEV) exerts a negative and strong relationship with Return on Asset (ROA) and the Firm’s Age was negative too but significant. This implies that age of a firm has a long way to impact on the returns of Asset of the firms. This implies that returns on shares may be favourable in the short run but in the long run may affect the investment opportunities of the firm. We now recommend that firm’s total assets (fixed and current) should be maximized to help facilitate appropriate earnings so as to increase shareholders wealth without any deception of increased income