PENGARUH ARUS KAS OPERASI, LIKUIDITAS, PROFITABILITAS DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

Abstract

This research aimed to examine the effect of operating cash flow, liquidity, probability, and leverage
on the dividend policy. The calculation of operating cash flow conducted by calculated the operating
cash flow ability, liquidity measured by current ratio, profitability by return on assets, and leverage
measured by debt to equity ratio, while dividend policy measured by dividend payout ratio. The
research was quantitative Furthermore, the simple collection of this research used a purposive
sampling method i.e. a simple collection method with purposive sampling method it was obtained 22
sample from 45 LQ-45 companies were listed on the Indonesia Stock Exchange. The observation periods
were conducted in 2014-2018. In addition, the data analysis method of this research used multiple linear
analysis with SPSS software 25 version. Based on the research of this research it concluded that
operating cash flow did not have any effect on the dividend policy. Liquidity did not have any effect
on the dividend policy. Meanwhile, profitability had a positive effect on dividend policy. In addition,
leverage had a negative effect on dividend policy.

Keywords: operating cash flow, liquidity, profitability, leverage