The purpose of this study was to examine the relationship between dividend
payout, retained earnings, corporate tax and stock prices with a focus on the
Nigerian banking sector. The population of the study comprises of banks that
are listed in the Nigerian Stock Exchange. The study samples were selected
using purposive sampling method. Data were collected from the Annual report
and accounts of the sampled banks for a period of ten years (2006- 2015). The
Ordinary Least Square Regression Model was used to estimate the relationship
between dividend pay-out, retained earnings, corporate tax and stock prices
with the aid of Statistical Package for Social Science (SPSS). Regression Results
shows that dividend pay-out has significant positive relationship with stock
market prices. The study also revealed that retained earnings have a significant
positive relationship with share prices. Corporate tax, has significant negative
relationship with the stock prices of the listed commercial banks in Nigeria.
