The article deals with the concept of dividend policy and the basic theories of dividend policy that have developed during the existence of joint-stock companies as an organizational and legal form. The main types of dividend policy are also defined. Despite the broad theoretical basis, in the conditions of Russian business dividend policy is not considered as an effective tool in the management of the capital of the organization. In practice, when choosing a dividend policy, insufficient attention is paid to its features disclosed in dividend policy studies. In this regard, the need to develop a unified approach to assessing the effectiveness of the dividend policy of commercial organizations is identified. In this regard, a methodology for assessing the effectiveness of the dividend policy of the organization, which includes three stages, is proposed. At the first stage, the type of dividend policy is determined. At the second stage, the effectiveness of the dividend policy of the organization is evaluated, the results of which reveal its shortcomings, a decision is made on the need to adjust the dividend policy. At the third stage, the optimal amount of dividend payments is determined. The methodology was tested on the example of JSC «Kubanenergo». Based on the results of the evaluation, it was proposed to change the type of dividend policy taking into account the interests of the organization and shareholders.