PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP KEBIJAKAN DIVIDEN KAS PADA PERUSAHAAN PEFINDO 25

Abstract

Investment activity is the activity which is confronted to various kinds of risk and
uncertaintieswhichare mostlydifficult to be predicted by the investors. The main purpose of the
investors by investing their capital is to gain profit or the rate of return on investment either in the
form of dividend yield or incomefrom the difference inthe selling priceof stock to thepurchase price of
the stock(capital gain). Generally, investors want a relatively stable dividend payment since the
dividend stability can increase the trust of the investors to the company so it reduces the uncertainty
of the investors in investing their capital to the company. The purpose of this research is to find out the
influence of profitability and liquidity to the cash dividend. The population is companies which are
incorporated in the index of 25 Indonesia Securities Rating (PEFINDO) in Indonesia Stock Exchange
in 2008 – 2012 periods and 11 companies have been selected as samples. The multiple regressions
analysis is used as the analysis technique. The result of research shows that profitability and liquidity
have positive and significant influence to the cash dividend.
Keywords: profitability, liquidity, cash dividend.