DETERMINAN KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR TAHUN 2018-2020

Abstract

This research aimed to examine empirically the effect of Free Cash Flow, Market Book Ratio, Profitability, Firm Size, and Taxes on dividend policy at Manufacturing Companies that were listed on the Indonesia Stock Exchange from 2018 up to 2020. The Free Cash Flow was referred to FCD, Market Book Ratio was referred to MBR, Profitability was referred to Return On Asset, Firm Size was referred to LN Total Asset, Taxes was referred to Effect Tax Rate, and dividend policy was referred to Dividend Payout Ratio. The research was quantitative. Moreover, the data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 34 samples, with a total data of 102. The research result concluded that Free Cash Flow did not affect dividend policy. However, Market Book Ratio Affected dividend policy. Similarly Profitability affected dividend policy. On the other hand, Firm Size dd not affect dividend policy. Likewise, Taxes did not affect dividend policy.