This study basically investigates the relationship between the financial performance and dividend payout among listed firms in NSE. The annual reports for the period 2012-2017 were utilized as the main source of data collection for the 20 sampled firms. The correlation and regression analysis method was employed as a statistical technique for analyzing the data collected. The results of the study provide evidence that the dividend policy measures are not significantly correlated with earnings per share, price earnings ratio and dividend payout as dividend policy, return on equity and return on assets as firm performance measures.