The Impact of Dividend Policy and Financial Structure on the Profitability of Companies Listed on the Stock Exchange of Thailand: Industrial Products Group

Abstract

             This research aims to examine the Impact of Dividend Policy and Financial Structure on the Profitability of Companies Listed on the Stock Exchange of Thailand: Industrial Products Group. The sample includes $75$ companies in the industrial product sector, with data collected over a five-year period from 2020 to 2024. The statistical methods employed are descriptive statistics, correlation analysis, and multiple regression analysis

              The findings indicate that the dividend policy, specifically the dividend yield, has a positive impact on profitability, as measured by the net profit margin, return on equity and return on assets. In contrast, the dividend payout ratio has no significant impact on profitability, as measured by the net profit margin, return on equity and return on assets. Regarding financial structure, the debt-to-asset ratio and the debt-to-equity ratio have a negative impact on profitability, as measured by net profit margin and return on assets. Moreover, the debt-to-asset ratio also has a negative impact on profitability as measured by return on equity. However, the debt-to-equity ratio shows no significant impact on profitability, as measured by return on equity.