DETERMINANTS OF DIVIDEND POLICY OF LISTED OIL AND GAS FIRMS IN NIGERIA

The largest companies worldwide face the challenge of differentiating amount to pay as a dividend and retain for internal use. This study, therefore, aims examine main determinants policies oil gas firms in Nigeria. primary study objective was how like earnings, liquidity, state economy, total assets significantly impact payout ratio listed Ten were selected, secondary data gathered from their financial statements 2010 2020. fixed effect random regression analysis estimated data, while other post-estimation techniques, such Hausman test, used select between panel that best fit study. test selected regression. Therefore, findings showed earnings economy positively significant impacting ratio. Total negatively significant, liquidity insignificant, affecting recommended, among others, Nigerian should build manage effectively efficiently, this would determine influence policy decisions.