PENGARUH PROFITABILITAS, KEBIJAKAN HUTANG, UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aimed to examine the effect of profitability which was measured by Logarithms Natural Return On Asset, debt policy which was measured by Logarithms Natural Debt to Equity Ratio and firm size which was measured by Logarithms Natural Dividend Payout Ratio. The research was quantitative. Moreover, the data collection technique used purposive sampling. In lne with, there were 47 manufacturing companies which were listed on Indonesia Stock Exchange (IDX) during 2016-2019 as the sample. Furthemore, the data analysis technique used multiple linier regression with SPSS 20.The research result concluded that profitability had a positive and significant effect on dividend policy. This meant, when companies profitability was maximum, dividend sharing was increased also. On the other hand, det policy did not affect dividend policy as the amount of companies’ debt did not affect dividend sharing. Likewise, firm size did not affect dividend policy. It meant, how bigger companies’ assets won’t become a benchmark in calculating the amount of dividend sharing.
Keywords: profitability, debt policy, firm size, dividend policy