Dividend payout has been for many years a focus of debate in financial literature. This study
aimed at empirically examining the factors that affect dividend payout among firms listed at the
Nairobi Securities Exchange. The variables that where considered are profitability, liquidity,
industry dummy and growth with the control variables being firm size and leverage. The study
considered a sample of three companies from each sector of the economy as represented in the
Nairobi Securities Exchange, measured for a period of five years from 2008 to 2012. Data
collected was secondary in nature, collected from annual financial reports as reported by the
sampled companies.
