Journal Press India®

MUDRA: Journal of Finance and Accounting
Vol 13 , Issue 1 , January - June 2026 | Pages: 147-166 | Research Paper

Do Green Dividends Attract Millennial and Gen Z Investors? Evidence From the FMCG Companies

 
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Author Details ( * ) denotes Corresponding author

1. * Adarsh Mishra, Research Scholar , Department Of Commerce , University of Lucknow , Lucknow, Uttar Pradesh, India (prof.adarshmishra@gmail.com)
2. Abhishek Srivastava, Research Scholar, Department of Commerce, University of Lucknow, Lucknow, Uttar Pradesh, India (as21abhishek@gmail.com)
3. Audhesh Kumar, Professor, Department of Commerce, University of Lucknow, Lucknow, Uttar Pradesh, India (audhesh333@yahoo.com)

In recent years, the investing landscape has transformed significantly, driven largely by the evolving lifestyles of Millennials and Generation Z. As digital natives, these generations are reshaping wealth-building approaches, emphasizing sustainability and technological innovation in their investment choices. A key development in this context is the rise of green dividends—returns linked to a company’s performance against environmental, social, and governance (ESG) standards. This study explores how green dividends influence the investment preferences of Millennials and Gen Z, with a focus on the fast-moving consumer goods (FMCG) sector, which has a notable environmental footprint and is highly responsive to public perception. The research investigates whether green dividends serve as a compelling incentive for these investors and how they compare to traditional dividend models. Insights from this study aim to help FMCG companies align their dividend strategies with sustainable finance principles, enhancing both investor appeal and corporate accountability.

Keywords

Green dividends; Sustainable finance; FMCG sector; ESG performance; Investors

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