Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies

Magambo Evelyne F.

doi:doi:10.11648/j.jfa.20160404.16

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Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies

Magambo Evelyne F.

Published in Journal of Finance and Accounting (Volume 4, Issue 4)

Received: 10 May 2016 Accepted: 23 June 2016 Published: 6 July 2016

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Abstract

The main objective of the study was to establish the determinants of dividend policies of companies listed at DSE. Specifically, the study aimed to identify factors that influence dividend policy among listed companies and explore the statistical relationship between determinants of dividend policy. Correlation and regression analysis were used to establish the relationship between the dependent and independent variables. The study concludes that the dividend policies of companies listed at the DSE is determined by the amount of profit after tax, liquidity and shareholders’ fund. Among these four determinants, Profitability is the most significant determinant of dividend policy. The study recommends that listed company should adopt dividend policy based on their current financial circumstances, especially, based on their current Profitability position. Also DSE should conduct frequent training to shareholders of various companies listed at DSE so as to help them make sound financial decisions with regard to which companies to buy shares from.

Published in	Journal of Finance and Accounting (Volume 4, Issue 4)
DOI	10.11648/j.jfa.20160404.16
Page(s)	202-211
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Dividend Policy, Listed Companies, Dares Salaam Stock Exchange, Tanzania

References

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APA Style

Magambo Evelyne F. (2016). Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. Journal of Finance and Accounting, 4(4), 202-211. https://doi.org/10.11648/j.jfa.20160404.16

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ACS Style

Magambo Evelyne F. Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. J. Finance Account. 2016, 4(4), 202-211. doi: 10.11648/j.jfa.20160404.16

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AMA Style

Magambo Evelyne F. Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. J Finance Account. 2016;4(4):202-211. doi: 10.11648/j.jfa.20160404.16

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@article{10.11648/j.jfa.20160404.16,
  author = {Magambo Evelyne F.},
  title = {Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies},
  journal = {Journal of Finance and Accounting},
  volume = {4},
  number = {4},
  pages = {202-211},
  doi = {10.11648/j.jfa.20160404.16},
  url = {https://doi.org/10.11648/j.jfa.20160404.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20160404.16},
  abstract = {The main objective of the study was to establish the determinants of dividend policies of companies listed at DSE. Specifically, the study aimed to identify factors that influence dividend policy among listed companies and explore the statistical relationship between determinants of dividend policy. Correlation and regression analysis were used to establish the relationship between the dependent and independent variables. The study concludes that the dividend policies of companies listed at the DSE is determined by the amount of profit after tax, liquidity and shareholders’ fund. Among these four determinants, Profitability is the most significant determinant of dividend policy. The study recommends that listed company should adopt dividend policy based on their current financial circumstances, especially, based on their current Profitability position. Also DSE should conduct frequent training to shareholders of various companies listed at DSE so as to help them make sound financial decisions with regard to which companies to buy shares from.},
 year = {2016}
}

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TY  - JOUR
T1  - Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies
AU  - Magambo Evelyne F.
Y1  - 2016/07/06
PY  - 2016
N1  - https://doi.org/10.11648/j.jfa.20160404.16
DO  - 10.11648/j.jfa.20160404.16
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 202
EP  - 211
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20160404.16
AB  - The main objective of the study was to establish the determinants of dividend policies of companies listed at DSE. Specifically, the study aimed to identify factors that influence dividend policy among listed companies and explore the statistical relationship between determinants of dividend policy. Correlation and regression analysis were used to establish the relationship between the dependent and independent variables. The study concludes that the dividend policies of companies listed at the DSE is determined by the amount of profit after tax, liquidity and shareholders’ fund. Among these four determinants, Profitability is the most significant determinant of dividend policy. The study recommends that listed company should adopt dividend policy based on their current financial circumstances, especially, based on their current Profitability position. Also DSE should conduct frequent training to shareholders of various companies listed at DSE so as to help them make sound financial decisions with regard to which companies to buy shares from.
VL  - 4
IS  - 4
ER  -

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Author Information

Magambo Evelyne F.

Accountancy Department, College of Business Education, Mwanza, Tanzania

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APA Style

Magambo Evelyne F. (2016). Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. Journal of Finance and Accounting, 4(4), 202-211. https://doi.org/10.11648/j.jfa.20160404.16

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ACS Style

Magambo Evelyne F. Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. J. Finance Account. 2016, 4(4), 202-211. doi: 10.11648/j.jfa.20160404.16

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AMA Style

Magambo Evelyne F. Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies. J Finance Account. 2016;4(4):202-211. doi: 10.11648/j.jfa.20160404.16

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@article{10.11648/j.jfa.20160404.16,
  author = {Magambo Evelyne F.},
  title = {Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies},
  journal = {Journal of Finance and Accounting},
  volume = {4},
  number = {4},
  pages = {202-211},
  doi = {10.11648/j.jfa.20160404.16},
  url = {https://doi.org/10.11648/j.jfa.20160404.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20160404.16},
  abstract = {The main objective of the study was to establish the determinants of dividend policies of companies listed at DSE. Specifically, the study aimed to identify factors that influence dividend policy among listed companies and explore the statistical relationship between determinants of dividend policy. Correlation and regression analysis were used to establish the relationship between the dependent and independent variables. The study concludes that the dividend policies of companies listed at the DSE is determined by the amount of profit after tax, liquidity and shareholders’ fund. Among these four determinants, Profitability is the most significant determinant of dividend policy. The study recommends that listed company should adopt dividend policy based on their current financial circumstances, especially, based on their current Profitability position. Also DSE should conduct frequent training to shareholders of various companies listed at DSE so as to help them make sound financial decisions with regard to which companies to buy shares from.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - Determinants of Dividend Policy for Companies Listed at Dar Es Salaam Security Exchange (DSE), a Case of Selected Listed Companies
AU  - Magambo Evelyne F.
Y1  - 2016/07/06
PY  - 2016
N1  - https://doi.org/10.11648/j.jfa.20160404.16
DO  - 10.11648/j.jfa.20160404.16
T2  - Journal of Finance and Accounting
JF  - Journal of Finance and Accounting
JO  - Journal of Finance and Accounting
SP  - 202
EP  - 211
PB  - Science Publishing Group
SN  - 2330-7323
UR  - https://doi.org/10.11648/j.jfa.20160404.16
AB  - The main objective of the study was to establish the determinants of dividend policies of companies listed at DSE. Specifically, the study aimed to identify factors that influence dividend policy among listed companies and explore the statistical relationship between determinants of dividend policy. Correlation and regression analysis were used to establish the relationship between the dependent and independent variables. The study concludes that the dividend policies of companies listed at the DSE is determined by the amount of profit after tax, liquidity and shareholders’ fund. Among these four determinants, Profitability is the most significant determinant of dividend policy. The study recommends that listed company should adopt dividend policy based on their current financial circumstances, especially, based on their current Profitability position. Also DSE should conduct frequent training to shareholders of various companies listed at DSE so as to help them make sound financial decisions with regard to which companies to buy shares from.
VL  - 4
IS  - 4
ER  -

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