PENGARUH KINERJA KEUANGAN TERHADAP KEBIJAKAN DIVIDEN (STUDI EMPIRIS PADA PERUSAHAAN KESEHATAN YANG TERDAFTAR DI BEI PERIODE 2019-2022)

Abstract

This research aimed to examine and analyze the effect of profitability, liquidity, and leverage on dividend policy. Furthermore, profitability was measured by Return On Asset (ROA), liquidity was measured by the Current Ratio (CR), and leverage was measured by Debt to Asset Ratio (DAR). While dividend policy was measured by the Dividend Payout Ratio (DAR). The research was quantitative. Moreover, the population was Health companies listed on the Indonesia Stock Exchange during 2019-2022. The data collection technique used purposive sampling i.e., a sample selection with determined criteria. In line with that, there were 8 samples with 4 years of observation. The total was 32 data samples. Additionally, the data analysis technique used multiple linear regression analysis with SPSS. The result indicated that both profitability and leverage had a negative effect on the dividend policy of Health companies. On the other hand, liquidity did not affect the dividend policy of Health companies.