PENGARUH LIKUIDITAS, LEVERAGE, DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

Dividend policy is decision by the firm as much earnings will be shared as dividend or retained earnings for shareholder. This research airned to examine the effect of liquidity, leverage and profitability on the dividend policy which was listed on Indonesia Stock Exchange (IDX). Liquidity was measured by Current Ratio, leverage was measured by Debt to Equity Ratio, and profitability was measured by using Return on Asset. The research was quantitative. While, the population was 151 manufacturing companies which were listed on Indonesia Stock Exchange 2013-2017. Moreover, the sampling collection technique used purposive sampling, in which the sample was collected based on criteria given as the data needed. In line with, there were 55 samples from eleven manufacturing companies. In addition, the data analysis technique was multiple linear regression with SPSS version 22. The research result concluded liquidity had negative but insignificant effect to the dividend policy, leverage had negative and significant effect to the dividend policy and profitability had positive and significant effect on the dividend policy.
keywords : liquidity, leverage, profitability, dividend policy.