PENGARUH AKTIVITAS, SOLVABILITAS, SALES GROWTH, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN PADA INDUSTRI MANUFAKTUR

Abstract

This research aimed to find out the effect of Total Assets Turnover (TATO), Debt to Equity Ratio (DER), sales growth, and firm size on the Dividend Payout Ratio (DPR) of manufacturing industry which were listed on Indonesia Stock Exchange. The research was quantitative. While, the population was 151 manufacturing industries. Moreover, the sampling collection technique used purposive sampling. Furthermore, there were eleven manufacturing commpanies which were listed on Indonesia Stock Exchange 2013-2017. In addition, the data used financial statments. For the data analysis technique, it used multiple linear regression. The research result concluded Total Assets Turnover (TATO) had positive and significant effect on Dividend Payout Ratio (DPR). While, Debt to Equity Ratio (DER) had positive but insignificant effect on Dividend Payout Ratio (DPR). Moreover, sales growth had negative and insignificant effect on Dividend Payout Ratio (DPR). On the other hand, the firm size had positive and significant effect on Dividend Payout Ratio (DPR) of manufacturing industries which were llisted on Indonesia Stock Exchange.
Keywords: TATO, DER, growth, firm size, DPR.