EFFECT OF CORPORATE TAXES ON DIVIDEND AND PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA
Abstract
This study examines the effect of corporate taxes on dividend and profitability of deposit money banks in Nigeria, with a focus on zenith bank Nigeria plc from 2013 to 2023. the objective of the study is to investigate the impact of corporate taxes on dividend payments and profitability at Nigerian deposit money banks. the research uses a convenience sampling technique and an ex post facto research design due to the pre-existing nature of the data. the population of the study consisted of the 32 deposit money banks in Nigeria as of December 31, 2023. findings reveal that corporate income tax does not significantly impact dividend payout ratios or return on assets. the study concludes that corporate taxes have no significant effect on dividend and profitability of deposit money banks in Nigeria, supporting the findings of previous research. the study suggests that the board of directors of quoted banks can build a dividend policy that is acceptable to the various stakeholders in the firms, manage shareholder expectations by presenting valid and reliable financial information, and focus on consistent growth without considering it a direct stimulant for dividend payout.
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