A proposed model for the role of net debt ratio as a mediating variable in the relationship between dividend policy and financial performance: An applied study on Egyptian listed companies

Abstract

This study aims at determining the effect of net debt rate as an interactive moderate on the relationship between the Dividend policy and financial performance. The study population is 100 non-financial companies listed on the Egyptian Stock Exchange. The study is based on the secondary data published by Miser for Information Dissemination and the Egyptian Stock Exchange for the period 2012-2017. The sample size of study 35 companies, and the earnings per share was used as a measure of financial performance and Dividend per share was used as a measure dividend policy. The results showed a significant positive impact of net debt rate as a moderator on the relationship between dividend per share and earnings per share.