PENGARUH PROFITABILITAS, FIRM SIZE, LIKUIDITAS DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

Abstract

Dividend policy is one of the causes of the motivation of investors to invest their funds in the capital market.
Investors prefer dividends to capital gains. Because the information that investors have in the capital market is
very limited, then the dividend changes will be used as a signal to determine the company's performance, so
companies often use dividend announcements to increase stock prices from the issuer's side. So that this study
aims to determine and analyze the effect of proxied profitability with ROA, firm size, liquidity and leverage on
dividend policy. Sampling was used for purposive sampling method and based on predetermined criteria, a
sample of 40 companies was obtained so that the number of observations in this observation was 160
observations. Data analysis using descriptive statistics, classic assumption test, model feasibility test, regression
analysis and hypothesis testing. The results of the study show that profitability has a significant and significant
effect on dividend policy. Firm Size influences and is significant for dividend policy. Leverage has an effect and is
significant on dividend policy. While the Current ratio has a negative and not significant effect on dividend
policy
Keywords: profitability, firm size, liquidity, leverage