Unclaimed Dividend, Profitability and Firm Value of Quoted Deposit Money Banks (DBMS) in Nigeria

This study seeks to examine the effect of unclaimed dividend on profitability and firm value of selected deposit money banks (DMBs) quoted in the Nigerian Stock Exchange (NSE). The population of constitutes of all the quoted deposit money banks (DMBs) in the Nigerian Stock Exchange for the 5 year period (2012'“2016) covered by this study. Nine of the banks were selected was selected for the study. Ordinary least square (OLS) statistical tool was used in the analysis of data. The study found that there is no significant relationship between unclaimed dividend and profitability, similarly it was also observed that no significant relationship exists between unclaimed dividend and firm value of the selected banks. It was recommended that regulators and other stakeholders in the capital market should ensure that the new e-dividend payment system is fully implemented to significantly reduce the volume of unclaimed dividend. Also, shareholders should be sensitized on the importance of the e-dividend payment and how they can take advantage of it. Prof. C. M. Ekwueme | Ezelibe Chizoba Paulinus"Unclaimed Dividend, Profitability and Firm Value of Quoted Deposit Money Banks (DBMS) in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-1 , December 2017, URL: http://www.ijtsrd.com/papers/ijtsrd8252.pdf http://www.ijtsrd.com/management/accounting-and-finance/8252/unclaimed-dividend-profitability-and-firm-value-of-quoted-deposit-money-banks-dbms-in-nigeria/prof-c-m-ekwueme