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| Unclaimed Dividends And Corporate Performance Of Selected Banks In Nigeria |
Ehioghiren, Efe Efosa, PhD and Owie, Ikponmwosa Henry
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Abstract:
The study examines unclaimed dividends and corporate performance of selected banks in Nigeria. One research question and hypothesis guided the study, the research design adopted for the study is ex-post facto research design, and the population of the study consists of the entire 18 banking companies quoted in the Nigerian stock exchange as at December 2020. Data for the study were obtained from annual reports for the period of eleven (11) years ranging from 2010 to 2020. A random sampling technique base on their size, disclosure of unclaimed dividend was used to selected three banks are First bank plc, Guarantee trust bank and United bank for Africa. Independent sample test was used to compare the unclaimed dividends amount among the selected banks. Findings show that UBA, GTB and FBN differ in the amount of unclaimed dividend in the periods. The implications of the findings is that unclaimed dividend is a liability to the firm and as such will impact on the cooperate performance of their activities. The study recommends among other that management of the selected banks should enforce and strengthen existing dividend administration policies and create modalities and possibilities that will enable owners of unclaimed dividends to collect and recover their money.
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