摘要：The study examined the effect of firm performance on dividend policy of listed consumer goods companies in Nigeria, it specially examined the effect of return on asset on dividend per share, it examined the effect of cash reserved n dividend per share, as well it examined the effect of debt on equity on dividend per share of listed consumer goods companies in Nigeria. The study was anchored on social contract. Secondary sources of information were employed to extract useful information from the Audited Annual Reports of the eight (8) consumer goods firms sampled for the investigation for the periods 2010-2020. Panel data least square multiple regression was used to test the hypothesis. Findings reveal that return on asset, required cash reserved have positive and statistically significant relationships with dividend per share (β= 0.0321, p-value = 0.0037, β= 0.3425, p-value = 0.005, and debt on equity has a negative and statistically significant effect on dividend per share with (β= -0.7286, p-value = 0.15). The study therefore recommends among others that the management of consumer goods companies should make it a priority to increase the amount of dividends paid out to their customers’ stocks in order to boost the companies’ overall profitability. This is necessary due to the fact that there is a robustly positive correlation between return on assets and dividends paid out per share.
