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.