PENGARUH RASIO KEUANGAN TERHADAP KEBIJAKAN DIVIDEN PERUSAHAAN BATUBARA DI BEI

Abstract

Dividend policy is an issue which is commonly experienced by go public company because of the conflict of interests
between the company and stockholders i.e. to meet the expectation of stockholders to dividends and on the other
hand, it does not have to resist the growth of the company. The purpose of this research is to examine the influence of
debt to equity ratio, cash position, and return on assets to the dividend payout ratio by analyzing of financial
statement in 5 years which has been prepared by the sub sector of coal mining companies. The population of this
research is 23 coal mining companies which are listed in Indonesia Stock Exchange (IDX). The sample collection
method has been done by using purposive sampling, and the result of the sample collection has obtained three coal
mining companies in 2011
-2015 periods. The analysis has been carried out by using multiple regressions analysis
and the SPSS (statistical product and service solution) 23.0 version. Based on the result of the research shows that
debt to equity ratio has significant and negative influence to the dividend payout ratio, and cash position has
significant and positive influence to the dividend payout ratio, return on assets does not have any significant and
negative influence to the dividend payout ratio.

Keywords: debt to equity ratio, cash position, and return on assets, dividend payout ratio