Author(s): Asghar Asadi, Amirhoshang Jangi, Seideh Sakineh Hosseini Harandeh
In the context of financial management and corporate financial management issues, the relationship between shareholders (ownership structure) on the company's payout ratio is an important issue .The purpose of this study is to answer the question whether the composition of shareholders in the company effects on dividend payout ratio, if so, is it positive or negative, and how much. Then, it is considered the focus on the composition of shareholders and two components were defined for the were as follows: The amount of the major shareholders Ownership shareholder and the amount of the minority shareholders Ownership. Geographic scope of the study includes companies accepted in the Bombay Stock Exchange Group A and its time domain is from 2006 to 2011. The results indicate that the Bombay Stock Exchange, there is a positive relationship between a major shareholder ownership and dividend payout ratio and there is a negative relationship between the minority shareholders ownership and dividend payout ratio.