Abstract
A firm considers various factors when approaching a dividend policy decision to analyze the
determinants of dividend policy in the context of Bangladesh; it is taken data of various
financial indicators of sample companies. The structural equation modeling is used for
inferring the result. The result shows that the SG is negatively related to DPR and LIQ,
RISK, OWNSP, ROA, lagged DPR are positively related to DPR. The decision maker,
investors and other stakeholders should follow these findings.