PENGARUH PROFITABILITAS, LEVERAGE, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN

Abstract

This research aims to examine the effect of profitability, leverage, liquidity, and firm size on the dividend policy. The population was 22 manufacturing companies during 2019-2023. Furthermore, profitability was measured by Return On Asset (ROA) leverage was measured by Debt to Equity Ratio (DER), liquidity was measured by Current Ratio (CR), and the firm size was measured by Total Assets company (Ln), also dividend policy was measured by Dividend Payout Ratio (DPR). This research applies quantitatively. The data collection technique used purposive sampling based on the determined criteria i.e., a manufacturing company. In line with that, there were 110 observation samples taken. Additionally, the data analysis technique used multiple linear regression with the SPSS program 22 version. The result shows that profitability has a positive effect on the dividend policy. However, leverage has a negative effect on dividend policy. Likewise, liquidity had a negative effect on dividend policy. On the other hand, the firm size did not affect dividend policy.
Keywords: Dividend Policy, Profitability, Leverage, Liquidity, And Firm Size