This study aimed to analyze the influence of corporate factors on the dividend payment decisions of publicly listed commercial banks in Nigeria. Cross-sectional data were collected from the publicly available financial statements of thirteen (13) listed commercial banks. The dividend payout ratio was determined based on the firm’s size, profitability, capital structure, and investment. We used descriptive statistics, regression coefficients, R-square, probability values, the Durbin–Watson statistic, and the Pedroni Residual Cointegration Test to look at how corporate attributes and the dividend payout ratio are related over time. The estimated model showed that the features of the companies were responsible for 64.7% and 43.5% of the changes in the dividend payout ratio of publicly traded commercial banks. The results reveal that the size of a company, how profitable it is, and how much it invests all have a positive and substantial effect on the dividend payout ratio. On the other hand, the capital structure has a negative and significant effect on the dividend policy. The study suggests that managers of commercial banks should keep their profits consistent and growing in order to boost dividends, gain market share, and strengthen their capital base.