PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG DAN KEPEMILIKAN INSTITUSIONAL TERHADAP KEBIJAKAN DIVIDEN

Abstract

A company's goal is to maximize profit and to increase shareholder prosperty. This research aimed to test and
analyse the effect of profitability on divendend policy, the effect of debt policy on dividend policy, and the effect of
institutional ownership on dividend policy. This research was quantitative research. The population of this study
were 40 companies of property and real estate sector, listed on the Indonesia Stock Exchange in the 2012-2019.
The technique for sampling purposive sampling method resulted 13 companies or 104 test samples during the
2012
-2019. The data used were teken thourgh documentation techniques consisting of annual reports of property
and real estate companies in the 2021-2019. The method of analysis for research data was multiple linear
regression analysis. Then, the data was processed using SPSS (Statistic Program for Social Science) Version 21.
As The result, this research showed that the profitability had a positive effect on dividend policy, the debt policy
negatively affected dividend policy, and the institutional ownership positively affected dividend policy.
Keywords: profitability, debt policy, institutional ownership, dividend policy