This document analyzes and compares the dividend policies of companies in the Indian IT and cement industries from 1995 to 2009. It examines the determinants of dividend policy, including profit after tax, lagged dividend, current ratio, debt-equity ratio, interest payment, sales, market capitalization, earnings per share, payout ratio, and capital expenditure. Descriptive statistical analysis is used to analyze dividend payout trends in both industries, and correlation is used to identify the degree of influence of different factors. Secondary data was collected from Capitaline database for 20 companies in each industry. The analysis finds that both industries maintained fairly constant payout ratios over the period, with IT companies distributing higher dividends due to higher earnings. Key determinants