Symposia & Conferences
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Item Dividend Policy and Shareholder Wealth of Listed Financial Service Companies in Sri Lanka(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Anojan, K.; Gunasekara, H. M. A. L.Introduction: Dividend policy is a key topic in corporate finance, traditionally linked to firm valuation and shareholder wealth. This study examines how Dividend Per Share (DPS), Dividend Payout Ratio (DPR), Dividend Yield (DY), and Return on Equity (ROE) influence Earnings Per Share (EPS). Focusing on Sri Lanka's financial sector from 2014–2023, it explores whether disciplined dividend policies enhance profitability per share amid economic challenges. Methodology: The research uses secondary data from eight listed financial institutions, encompassing both banking and non-banking entities. Key variables (DPS, DPR, DY, ROE, and EPS) were analyzed using multiple regression. Hypotheses tested include the positive effects of DPS, DPR, DY, and ROE on EPS, with descriptive statistics and data integrity checks conducted to support the analysis. Findings: Results reveal significant positive links between dividend policy variables, ROE, and EPS. Firms with robust dividend practices and efficient equity utilization exhibit stronger EPS. This suggests that dividends serve as signals of financial health, reflecting governance quality and resource efficiency, while supporting overall profitability. Conclusion: The study highlights a significant relationship between dividends and EPS. Stable dividends may indicate strong fundamentals and foster market confidence, particularly in emerging markets like Sri Lanka. Managers, investors, and policymakers can use these insights to align dividend strategies with long-term profitability goals. Future research is encouraged to explore causality and broader contextual applications.Item The Impact of Dividend Policy on Shareholders’ Wealth and Business Performance of Listed Manufacturing Companies in Sri Lanka(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Dilshani, L.D.C.; Abeywardhana, D.K.Y.The Dividend policy play a major role in current business as most important financial policy not only from the viewpoint of the company, but also from that of the shareholders, the consumers, employees, regulatory bodies and the government. The study aims to identify how the dividend policy influences the shareholders ‘wealth and the business performance of listed manufacturing companies in Sri Lanka. Dividend per share (DPS) and Dividend yield (DY) use as Dividend policy indicators while Return on Equity (ROE) use as business performance indicator and earning per share (EPS) and Market share price (MSP) use as shareholders’ wealth indicator. The study use secondary data of 30 manufacturing companies covering the period of 2012 to 2017. Data analyze using regression analysis. The result reveals that dividend policy has significant positive impact on shareholders’ wealth and the business performance of listed manufacturing companies in Sri Lanka. The previous empirical studies provide evidences that dividend policy has significant positive impact on shareholders’ wealth and the business performanceItem The Impact of Dividend Policy on Shareholders’ Wealth and Business Performance of Listed Manufacturing Companies in Sri Lanka(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Dilshani, L.D.C.; Abeywardhana, D.K.Y.The dividend policy plays a major role in current business as most important financial policy not only from the viewpoint of the company, but also from that of the shareholders, the consumers, employees, regulatory bodies and the Government. The study aims to identify how the dividend policy influences to the shareholders ‘wealth and the business performance of listed manufacturing companies in Sri Lanka. Dividend per share (DPS) and Dividend payout (DPO) were used as Dividend policy indicators while Return on Equity (ROE) used as business performance indicator and earning per share (EPS) and Market share price (MSP) used as shareholders’ wealth indicator. The study used secondary data of 41 manufacturing companies covering the period of 2012 to 2017. Data were analyzed using regression analysis and EViews package.The result reveals that dividend policy has positively significance impact on shareholders’ wealth and the business performance of listed manufacturing companies in Sri LankaItem Impact between Dividend Policy & Share Price Volatility; Evidence from Manufacturing Firms Listed in Sri Lanka(4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Jayamanna, K.D.A.P.; Wijesinghe, K.D.G.N.Dividend policy is one of the main indicators of any organization and especially all investors are concerning about the dividend policy. This study aims to identify how dividend policy affects to the share price. Research is focused on manufacturing sectors as it a fast growing industry sector. Data collected on 20 listed manufacturing companies for the period of 8 years from 2011-2018. Dividend policy measured through Dividend yield, Earnings volatility, Dividend Payout ratio. Growth in asset, Firm size were used as control variables. In order to measure relationship between dividend policy and stock prices, data were analyzed using regression analysis. The result reveals that Dividend payout has significant positive impact on share price volatility and dividend yield has negative impact on share price volatility and Firm size, earning volatility, asset growth explain the stock price volatility.Item The relationship between dividend payout and company performances: a study of listed automobile companies in Sri Lanka(Department of Accountancy, University of Kelaniya, 2015) Manoji, P.The issue of dividend payout is very important one in current business environment. Dividend policy is the regulation and guidelines that a company uses to decide to make dividend payment to shareholders (Ajanthan 2013). The dividend policy decisions of firms are the primary element of corporate policy. Dividend represents a distribution of earnings to the shareholder of a company and it is usually declared at Annual General Meeting (AGM) and paid to shareholders. Payment of dividend is usually met by the company from its earnings and cash flow. What proportion of the earnings should be invested and what proportion should be distributed to shareholders as dividends remains the decision of the management. Dividend, which is basically the benefit of shareholders in return for their risk and investment, is determined by different factors or decisions in an organization. These factors or decisions are finance decision, investment decision, financing decision and liquidity management decision (Azeez & Latifat 2015). The objective of this research is to determine the relationship between Dividend Payout and Company Performances among listed Automobile Companies in Sri Lanka. The study sought to examine the relationship between dividend payout and firm’s performance of selected listed automobile companies during 2010 to 2014. Secondary data will be collected from the annual reports of the automobile companies. These data will be analyzed to test hypothesis by using SPSS software through descriptive and inferential statistics such as Correlation analysis and Regression analysis. The findings expect that a significant relationship between dividend payout and firm’s performance exists. The study therefore, will be concluded that dividend payout is an important factor affecting companies’ performances.