PENGARUH PROFITABILITAS, LIKUIDITAS DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN

Abstract

This research aimed to examine the effect of profitability, liquidity, and leverage on the dividend policy. Furthermore, the profitability variable was measured by return on assets, the liquidity variable measured by the current ratio, the leverage variable was measured by debt to equity ratio, while the dividend policy variable was measured by the dividend payout ratio. The research object of this research used the manufacturing company in the food and beverages sub-sector listed on Indonesia Stock Exchange in 2015-2019. This research used quantitative. Furthermore, the research samples used the purposive sampling method, it obtained 35 samples from 7 companies which fulfilled the research sample criteria. Moreover, this research used secondary data in a from of an annual financial statement from the official website IDX or the Indonesia Stock Exchange. Besides, the data analysis technique of this research used multiple linear regressions calculated by SPSS program 26 version. The result of this research showed that profitability had a positive effect on the dividend policy. Meanwhile, liquidity and leverage did not have any effect on the dividend policy.
Keywords: profitability, liquidity, leverage, and dividend policy