PENGARUH PROFITABILITAS, FREE CASH FLOW DAN LIKUIDITAS TERHADAP KEBIJAKAN DIVIDEN

Abstract

This research aimed to examine and analyze the effect of profitability on the dividend policy, free cash flow on the
dividend policy and liquidity on the dividend policy of Comsumption Goods of manufacturing companies. The
population of this research was 42 Comsumption Goods of manufacturing companies, which were listed on
Indonesia Stock Exchange 2015-2018. Moreover, the data collection technique used purposive sampling with
documentation as the instrument. In line with, there were 17 companies as sample during 2015-2018.
Futhermore, the data were secondary, which in the form annual report of Consumption Goods of manufacturing
campanies in 2015-2018. In addition, the data analysis technique used multiple regression. The research result
concluded profitability had positive effect on the dividend policy of Comsumption Goods of manufacturing
companies. Likewise, freecash flow had positive effect on the dividend policy of Consumption Goods of
manufacturing companies. Inother hand, liquidity did not affect the dividend policy of Comsumption Goods of
manufacturing companies.
Keywords: profitability, free cash flow, liquidity, dividend policy.