REVIEWING THE RELATIONSHIP BETWEEN DIVIDEND AND FREE CASH FLOW OF NON-FINANCIAL FIRMS OF KSE 100

In this research, we have worked toward two main objectives. Firstly, upon the measures of long-term and short-term investments, lastly, checked whether dividend payout small fifty big firms is indifferent or not regarding free cash flow. For sample size took was all listed companies in KSE 100 Index Pakistan Stock Exchange; further, divided them into financial non-financial did our testing only on (64 total) between time period starting from 2009 to 2018. We developed four regression models total test arguments bifurcated series. first series, random effect, subsequent fixed effect.In end, results came out as expected, been able concur with defined can conclude that, firstly, there a strong relationship that when it comes payment dividends, are different depending their size.