payment of dividend

a company pay dividend to their shareholders in respect of shares held by them
no share no dividend

NO. A company cannot distribute dividend to any other Person other than the shareholder.
However in some cases sometimes any person may receive dividends or shares of dividends through indirect/direct holdings. But that person becomes a SBO.
So to be specific, NO, Only shareholder receives the dividend.

No...

Only shareholders can receive dividends from the company.