• MS. SAPNA GOYAL

Abstract: In case of Banking Industry interest payment and lagged dividend were the most important determinants of dividend payment as the regression coefficients of these variables have the highest values during most of the years and were found statistically significant for six and seven years respectively. The regression coefficients of interest payment have negative values during most of the years under study, which suggests that there was a negative relationship between dividend payment This analysis suggests that there was a positive relationship between lagged dividend and dividend paid in the current year, which supports the hypothesis. Similarly the regression coefficients of operating profit have positive values during most of the years under study and were found statistically significant for nine years out of sixteen years of the study. This suggests that there was a positive relationship between operating profit and dividend payment, which supports the hypothesis. Likewise, the regression coefficients of company size have positive values during most of the years of study and were found statistically significant for four years out of the sixteen years of study which suggests that there was a positive relationship between company size and dividend paid which yet again supports the hypothesis It means companies larger in size tend to pay more dividend than the smaller ones The regression coefficients of debt equity ratio have negative values during most of the years under study period which suggests that there was a negative relationship between debt equity ratio and dividend paid which support the hypothesis. It means levered firms tend to pay fewer dividends than the unlevered ones. The regression coefficients of growth rate of total assets have negative values during most of the years under study and were also found statistically significant during four years. This suggests that there was a negative relationship between growth rate of total assets and dividend payment, which supports the hypothesis. It means companies having high growth opportunities tend to prefer retained earnings as source of found for investment. The regression coefficients of interest paid have negative values during most of the years and were found statistically significant for ten years out of sixteen years of study. This suggests that there was a negative relationship between interest payment and dividend paid which support the hypothesis. The regression coefficients of current ratio has positive values during most of the years and were found statistically significant for two years out of the sixteen years of the study. This suggests that there was a positive relationship between current ratio and dividend paid which support the hypothesis.

Corporate Sector, Divided Policy, Company, Gurgaon, Haryana.

"Company characteristics and Dividend Payments in Banking Industry", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.264-267, March-2019, Available :http://www.jetir.org/papers/JETIR1903A39.pdf

"Company characteristics and Dividend Payments in Banking Industry", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp264-267, March-2019, Available at : http://www.jetir.org/papers/JETIR1903A39.pdf