Abstract
Dividend policy is a decision on the division of profits from the company, will be distributed to shareholders or will be retained in the form of retained earnings to finance investment in the future. Study aimed to examine the effect of Profitability, Liquidity, and Leverage Growth rate of the Dividend Policy on Manufacturing Companies listed on the Indonesia Stock Exchange period 2012 - 2014. Samples taken as many as 16 companies. The sampling method used in this research is purposive sampling. This study uses associative method, multiple linear regression analysis and the partial test (t test). Based on the results if the data was obtained that the profitability and liquidity of positive and significant effect on dividend policy, the growth rate negatively affect the company's dividend policy, leverage and no significant positive effect on dividend policy.
Highlights
Dividend policy is a decision on the division of profits
Study aimed to examine the effect of Profitability
Leverage Growth rate of the Dividend Policy on Manufacturing Companies listed on the Indonesia Stock Exchange period 2012 - 2014
Summary
Kebijakan dividen merupakan suatu keputusan mengenai pembagian laba yang diperoleh perusahaan, apakah akan dibagikan kepada pemegang saham atau akan ditahan dalam bentuk laba ditahan untuk membiayai investasi di masa mendatang. Penelitian ini bertujuan untuk menguji pengaruh Profitabilitas, Likuiditas, Tingkat Pertumbuhan Dan Leverage terhadap Kebijakan Dividen pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia periode 2012 - 2014. Metode penentuan sampel yang digunakan dalam penelitian ini adalah purposive sampling. Penelitian ini menggunakan metode asosiatif, teknik analisis regresi linear berganda dan uji parsial (t). Berdasarkan hasil olah data, diperoleh bahwa profitabilitas dan likuiditas berpengaruh positif dan signifikan terhadap kebijakan dividen, tingkat pertumbuhan perusahaan berpengaruh negatif terhadap kebijakan dividen, leverage berpengaruh positif dan tidak signifikan terhadap kebijakan dividen. Kata Kunci: profitabilitas, ikuiditas, tingkat pertumbuhan perusahaan, leverage, kebijakan dividen
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