Correlation Between Capital Structure and Company Dividend Payment

Student: Razenkov Viktor

Educational Programme: Economics (Bachelor)

Year of Graduation: 2021

In this study we examine whether there is a relationship between company’s dividend policy and capital structure or not. Accounting for an extensive amount of research in this area there is still no uniform answer for this question. Our analysis exploits companies’ financial reports from 2015 to 2020 using ordinary list square (OLS) and weighted OLS. According to this research capital structure of the company has a significant positive impact on its dividend pay-out ratio. In addition, bigger companies tend to have higher dividend pay-out ratio than smaller ones. In that case, investors oriented on dividend pay-outs should focus on large companies in order to fulfil their objective.

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