The Effect Of Liquidity, Profitability And Company Growth On Dividend Policy In Manufacturing Companies Listed On The Indonesia Stock Exchange

 Latif Trisna Pambudi Rahayu¹, Alberta Esti Handayani², Didik Tugas Suprianto³

Abstract

Dividend policy is a decision to determine how much dividend should be distributed to shareholders. This policy begins with how management treats the profits obtained by the company, which is generally part of the net income after tax (EAT) distributed to investors in the form of dividends and part is reinvested into the company in the form of retained earnings. The purpose of this study is to determine the Effect Of Liquidity, Profitability And Company Growth On Dividend Policy In Manufacturing Companies Listed On The Indonesia Stock Exchange (IDX). The population of this study is manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2016. The sample is part of the number and characteristics of the population (Sugiyono, 2014). The sample selection method used is purposive sampling, namely the selection of samples is not random but according to certain criteria.

In the F Test for variables (X) including Liquidity (X1), Profitability (X2), Company Growth (X3) have an influence on the dependent variable Dividend Policy (Y) in 18 companies listed on the Indonesia Stock Exchange during 2014-2016. In the t Test for the Liquidity variable (X1) it can be stated that it has a partial influence on Dividend Policy (Y). The Profitability variable (X2) has a partial influence on Dividend Policy (Y). The Company Growth variable (X3) has a partial influence on Dividend Policy (Y). The most dominant variable is the liquidity variable (XI)