Vol. 2, Issue 9, Part L (2016)

Abstract
Dividend policy has been an issue of interest in financial literature since Joint Stock Companies came into existence. Dividend decision is one of the most important functions of finance managers. Dividends are commonly defined as the distribution of earnings (past or present) in real assets among the shareholders of the firm in proportion to their ownership. Managements’ primary goal is shareholders’ wealth maximization, which translates into maximizing the value of the company as measured by the price of the company’s common stock. This goal can be achieved by giving the shareholders a “fair” payment on their investments. In the above context the relationship between the Dividend per share, Adjusted & Reported EPS, Operating Profit per share, Net Operating Income per share, Free Reserves per share of Wipro ltd. over a period of 2012 to 2016 have been studied. The study is based on secondary data collected from the authentic websites of these companies using Pearson’s Correlation Coefficient (2 Tailed test, 5% Level of Significance) to see whether there is any significant correlation between the above mentioned variables.