Abstract
This reserch intend to decide the influence of liquidity, profitability and free cash flow (FCF) at dividend policy. The sampling technique untized was purposive sampling method. The secondary data were obtained from from the yearly report of 11 stateowned enterprises that were registered on the Indonesia Stock Exchange for 2015 - 2019. The multiple regression by the SPSS V-16.00 program was performed using for data analysis. The yield indicated that partly the liquidity and free cash flow variables did not had significant effect on dividend policy, the profitability variable had a significant effect on dividend policy. Simultaneously the variable ol liquidity, profitability and FCF indicated a significant effect on dividend policy at stateowned enterprises that are registered on the Indonesian Stock Exchange in 2015 - 2019.
Highlights
This research intend to decide the influence of liquidity
from the yearly report of 11 stateowned enterprises that were registered on the Indonesia Stock Exchange for 2015 - 2019
The multiple regression by the SPSS V-16.00 program was performed using for data analysis
Summary
Dunia usaha terus berkembang dengan pesat mengikuti kompetisi yang semakin ketat ketat terjadi. 2. Profitabilitas Profitabilitas ialah kapasitas company untuk menghasilkan profit guna melunasi short term debt dan long term debt, serta membayar dividen guna pemegang saham. Pengaruh Likuiditas pada Kebijakan Dividen Likuiditas adalah kapasitas company untuk menutup short term debt melalui seluruh aktiva lancar yang dipunyai perusahaan sebelum masa pinjaman berakhir. Hal ini didukung oleh penelitian Suyono (2018) yang mengemukakan, semakin banyak kas serta likuiditas company secara total menyebabkan semakin tinggi kapasitas perusahaan melunasi dividen. Profitabilitas adalah kapasitas company guna mengukur efektivitas pengelolaan company dalam mengurusi harta, penjualan serta capital yang dipunyai perusahaan guna mendapatkan profit untuk perusahaan. Kesimpulan ini sejalan dengan hasil riset Tarwiyah (2018), mengemukan profitabilitas tinggi akan berpengaruh pada kenaikan dividen dan dapat menunjukkan tanda kalau perusahaan dalam keaadaan bagus. Jadi. meningkatnya ROA perusahaan akan berdampak positif pada dividend payout ratio
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