16. Data was collected for a sample of 20 companies for both the sectors (IT industry and cement industry).
17. The sample includes the companies which have paid dividends over a major portion of the horizon of study.
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25. Sales and PAT are the most significant factors imparting dividend paying capacity to the firms.
26. Since in the cement industry average Debt-equity ratio is higher, it has higher negative impact on dividend policy.
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28. But IT industry owing to higher earnings have distributed larger amount in the form of dividends while the cement industry has been more conservative in the approach.
29. The factors impacting the dividend policy of the companies in both the sectors have been fairly same in the long term though the degree of influence has been different.