Conference Paper

TAXATION AND DIVIDEND POLICY ON DEPOSIT MONEY BANKs (DMBs) IN NIGERIA

Abstract The research examined the correlation between taxes and dividends, as well as whether taxes had an impact on the dividends paid by the listed deposit money banks on the Nigerian Stock Exchange between 2014 and 2023. The ex-post facto research design was used to achieve the study's goals. The Nigerian Exchange Group publications, fact books, annual reports, and accounts of the chosen quoted banks provided secondary data for the study. Using the Pearson coefficient of correlation and Ordinary Least Square (OLS) regression, the pertinent data were statistically analysed. The study's findings showed a negative significant relationship between taxes and dividend policies, and that taxes have a statistically significant impact on banks' dividend policies. The study suggested that bank management should create a dividend policy that will benefit shareholders, maximize the bank's value, increase profitability, and reduce debt levels in order to satisfy shareholders' desire to maximize wealth through higher dividends. Keywords: Dividend policy, Financial performance, Earnings per share, Taxation.