Corporate Governance Characteristics and Operating Cash flow as Determinants of Dividend Payout: Evidence from Pakistan

Grounded in the agency theory as underpinning, the current study designed to examine the Corporate Governance Characteristics and Operating Cash Flow as Determinants of Dividend Payout in Pakistan. The statistical population included a non-financial sector companies in Pakistan Stock Exchange for the period of 2017. A quantitative data collection was to be analyzed and compares the effects on the selected variables. Data analysis was carried out with the help of SPSS 22. The Ordinary Least Square (OLS) method was to be applied to record their observation of the theory variables. The purpose of this study showed that Corporate Governance Characteristics such as board size, CEO duality, individual ownership and managerial ownership and operating cash flow including firm size with form of dividend payout in Pakistan listed companies.