DIVIDEND POLICY AND FINANCIAL PERFORMANCE OF INDIAN CEMENT COMPANIES –AN EMPIRICAL STUDY

The objective of this study is to find out the relationship between dividend payout and firm's financial performance of selected cement companies listed on BSE in India. A set of selected cement companies' data of eight years from 2009/10 to 2016/17, have been used for correlation and regression analysis. Return on assets is used as the determinants of firm's financial performance and Dividend payout is used as the measures of dividend policy along with the firm size and leverage as controlling variables. The statistical tools used in the study are Descriptive statistics, Correlation and Multiple regression analysis. The findings of the study are the relationship between Return on Assets and Dividend Payout Ratio is negative but statistically significant.