TAF PUBLISHING

This research attempts to ascertain the impact of different determinants of dividends on dividend payout policy in Pakistan. The total attention given to this study includes only all non-financial firms which are listed on Pakistan Stock Exchange (PSX). The sample of this study is 120 non-financial firms listed on the PSX, and the data for five years was accumulated on a yearly basis. The time period of data was from the year 2011 to 2015. In e-views software t-test has been done. The paper assists the management of the company in knowing how much firm size, financial leverage, and profitability impacts the dividend payout policy of a firm because, in most of the research paper related to dividend payout policy in the context of Pakistan, results revealed that financial leverage and profitability had an insignificant relationship with dividend payout policy. The study shows that timely dividend payments will improve the company's image in the long run.