Market Reaction to Dividend Announcements Before and During COVID-19 - Evidence from Banking Sector

The present study documented the behaviour of stock Indian banking sector around announcements dividends before and during global health crisis 2019. considered all banks in that have announced dividend from January 2015 to December 2021 conducted analysis using event methodology with Multi-Index Model (MIM). found pre-crisis period, PSU were more sensitive towards when decreased compared it was increased. While, private significantly impacted by both positive negative announcements, however, impact severe prolonged than announcements. Further, COVID 19 Pandemic, is witnessed information relating announcement has positively affected stock.