The basic resolution of this study is to investigate the relationship between dividend policy and firm performance. Design/methodology-the sample contain on 15 manufacturing companies in the year of 2014 to 2017.time series data were calculated from the financial statement of the selected manufacturing firms. Return on asset (ROA) and return on equity (ROE) were used as dependent variables while dividend payout ratio (DPOR), earning per share (EPS), price earnings ratio (PER) were modeled as independent variables. Multiple regressions like correlation, descriptive were used as data analysis techniques. Findings reveal that all the independent variable have a positive relationship with dependent variables. Dividend payout ratio, earning per share, price earnings ratio positively influence return on investment. Limitation of our study is that we examine only 15 manufacturing firms other researcher use large size sample and other sector firms expect manufacture.