{"id":{"repo_id":"otago-polytech","oai_identifier":"oai:null:10652/6748"},"canonical_url":"https://search.dev.ndltd.org/etd/otago-polytech/oai:null:10652/6748","repository":{"repo_id":"otago-polytech","name":"Otago Polytechnic","base_url":"https://www.researchbank.ac.nz/server/oai/request"},"display":{"title":"The impact of the COVID-19 pandemic on the New Zealand-listed companies’ dividend policy","abstract":"Dividends motivate investors to allocate funds to the stock market. The COVID-19 pandemic posed significant challenges to the global economy, impacting companies' financial performance and dividend policies worldwide. This research analyses dividend changes during the COVID-19 pandemic in New Zealand. Employing a quantitative research design, secondary data were sourced from Refinitiv and verified against annual reports. Inferential and descriptive analysis methods, including correlation and panel data regression, examined financial data from 116 publicly listed New Zealand companies between 2017 and 2023. This research findings indicate that New Zealand’s stock market exhibited volatility during the COVID-19 pandemic, with some companies maintaining consistent dividend payouts. This research provides critical insights for investors seeking to preserve the value of their investments by identifying companies that support their value during crises. This research found that New Zealand-listed companies did not distribute dividends uniformly during such periods; some offered higher dividends and enhanced dividends during the COVID-19 pandemic. Interestingly, companies prioritising gender diversity are recognised as value creators. Moreover, listed companies based solely in New Zealand tend to pay higher dividends than those with international operations. This research provides insights into the factors that inform investment decisions, particularly for shareholders seeking strong dividend yields. This research is focused on New Zealand-listed companies which may limit the generalisability of findings on non-listed small and middle-sized companies. This research helps managers and shareholders understand the consequences of the COVID-19 pandemic on dividend policies and highlights the need for capital preservation for the companies' financial stability.","abstract_html":"Dividends motivate investors to allocate funds to the stock market. The COVID-19 pandemic posed significant challenges to the global economy, impacting companies' financial performance and dividend policies worldwide. This research analyses dividend changes during the COVID-19 pandemic in New Zealand. Employing a quantitative research design, secondary data were sourced from Refinitiv and verified against annual reports. Inferential and descriptive analysis methods, including correlation and panel data regression, examined financial data from 116 publicly listed New Zealand companies between 2017 and 2023. This research findings indicate that New Zealand’s stock market exhibited volatility during the COVID-19 pandemic, with some companies maintaining consistent dividend payouts. This research provides critical insights for investors seeking to preserve the value of their investments by identifying companies that support their value during crises. This research found that New Zealand-listed companies did not distribute dividends uniformly during such periods; some offered higher dividends and enhanced dividends during the COVID-19 pandemic. Interestingly, companies prioritising gender diversity are recognised as value creators. Moreover, listed companies based solely in New Zealand tend to pay higher dividends than those with international operations. This research provides insights into the factors that inform investment decisions, particularly for shareholders seeking strong dividend yields. This research is focused on New Zealand-listed companies which may limit the generalisability of findings on non-listed small and middle-sized companies. This research helps managers and shareholders understand the consequences of the COVID-19 pandemic on dividend policies and highlights the need for capital preservation for the companies' financial stability.","abstract_has_math":false,"creators":["Adhikari, Rajesh"],"institution":"Otago Polytechnic | Te Pūkenga","degree_name":"Master of Applied Management","degree_level":"Masters","degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2025,"date_issued":"2025","date_published":"2025","updated_at":"2026-07-27T20:28:28Z","subjects":["COVID-19 pandemic","New Zealand companies","New Zealand stock exchange","dividend policies"],"languages":["en"],"rights":["This thesis is publicly available under a Creative Commons Attribution-NonCommercial-NoDerivatives licence CC BY-NC-ND 4.0 International. https://creativecommons.org/licenses/by-nc-nd/4.0/"],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://hdl.handle.net/10652/6748","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Adhikari, Rajesh"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2025-04-01T22:57:24Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2025-04-01T22:57:24Z"]},{"key":"dc:date.issued","label":"Date","values":["2025"]},{"key":"dc:type","label":"Dc Type","values":["Masters Thesis"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Masters"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Master of Applied Management"]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["Otago Polytechnic | Te Pūkenga"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["COVID-19 pandemic","New Zealand companies","New Zealand stock exchange","dividend policies"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["en"]},{"key":"dc:rights","label":"Dc Rights","values":["This thesis is publicly available under a Creative Commons Attribution-NonCommercial-NoDerivatives licence CC BY-NC-ND 4.0 International. https://creativecommons.org/licenses/by-nc-nd/4.0/"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://hdl.handle.net/10652/6748"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["Dividends motivate investors to allocate funds to the stock market. The COVID-19 pandemic posed significant challenges to the global economy, impacting companies' financial performance and dividend policies worldwide. This research analyses dividend changes during the COVID-19 pandemic in New Zealand. Employing a quantitative research design, secondary data were sourced from Refinitiv and verified against annual reports. Inferential and descriptive analysis methods, including correlation and panel data regression, examined financial data from 116 publicly listed New Zealand companies between 2017 and 2023. This research findings indicate that New Zealand’s stock market exhibited volatility during the COVID-19 pandemic, with some companies maintaining consistent dividend payouts. This research provides critical insights for investors seeking to preserve the value of their investments by identifying companies that support their value during crises. This research found that New Zealand-listed companies did not distribute dividends uniformly during such periods; some offered higher dividends and enhanced dividends during the COVID-19 pandemic. Interestingly, companies prioritising gender diversity are recognised as value creators. Moreover, listed companies based solely in New Zealand tend to pay higher dividends than those with international operations. This research provides insights into the factors that inform investment decisions, particularly for shareholders seeking strong dividend yields. This research is focused on New Zealand-listed companies which may limit the generalisability of findings on non-listed small and middle-sized companies. This research helps managers and shareholders understand the consequences of the COVID-19 pandemic on dividend policies and highlights the need for capital preservation for the companies' financial stability."]},{"key":"dc:title","label":"Title","values":["The impact of the COVID-19 pandemic on the New Zealand-listed companies’ dividend policy"]}]}],"canonical_facts":{"dc:creator":["Adhikari, Rajesh"],"dc:date.accessioned":["2025-04-01T22:57:24Z"],"dc:date.available":["2025-04-01T22:57:24Z"],"dc:date.issued":["2025"],"dc:description.abstract":["Dividends motivate investors to allocate funds to the stock market. The COVID-19 pandemic posed significant challenges to the global economy, impacting companies' financial performance and dividend policies worldwide. This research analyses dividend changes during the COVID-19 pandemic in New Zealand. Employing a quantitative research design, secondary data were sourced from Refinitiv and verified against annual reports. Inferential and descriptive analysis methods, including correlation and panel data regression, examined financial data from 116 publicly listed New Zealand companies between 2017 and 2023. This research findings indicate that New Zealand’s stock market exhibited volatility during the COVID-19 pandemic, with some companies maintaining consistent dividend payouts. This research provides critical insights for investors seeking to preserve the value of their investments by identifying companies that support their value during crises. This research found that New Zealand-listed companies did not distribute dividends uniformly during such periods; some offered higher dividends and enhanced dividends during the COVID-19 pandemic. Interestingly, companies prioritising gender diversity are recognised as value creators. Moreover, listed companies based solely in New Zealand tend to pay higher dividends than those with international operations. This research provides insights into the factors that inform investment decisions, particularly for shareholders seeking strong dividend yields. This research is focused on New Zealand-listed companies which may limit the generalisability of findings on non-listed small and middle-sized companies. This research helps managers and shareholders understand the consequences of the COVID-19 pandemic on dividend policies and highlights the need for capital preservation for the companies' financial stability."],"dc:identifier.uri":["https://hdl.handle.net/10652/6748"],"dc:language.iso":["en"],"dc:rights":["This thesis is publicly available under a Creative Commons Attribution-NonCommercial-NoDerivatives licence CC BY-NC-ND 4.0 International. https://creativecommons.org/licenses/by-nc-nd/4.0/"],"dc:subject":["COVID-19 pandemic","New Zealand companies","New Zealand stock exchange","dividend policies"],"dc:title":["The impact of the COVID-19 pandemic on the New Zealand-listed companies’ dividend policy"],"dc:type":["Masters Thesis"],"thesis:degree_level":["Masters"],"thesis:degree_name":["Master of Applied Management"],"thesis:institution_name":["Otago Polytechnic | Te Pūkenga"]},"updated_at":"2026-07-27T20:28:28Z"}