Abstract
The purpose of this study is to know the effect of liquidity, investment opportunity set, free cash flow, and state-owned enterprise on the dividend policy of bank companies listed on the Indonesia Stock Exchange (IDX) in 2011-2021. This study uses a purposive sampling technique to determine the research sample. The number of companies selected by the predetermined sample criteria is 8 companies from 46 companies listed in the IDX bank sector. In this study, an analytical test was conducted using descriptive statistics, classical assumption test, multiple linear regression test, t-test, and F-test. The result of this study showed that free cash flow gives a positive and significant influence on the dividend policy, while dividends on state-owned enterprise banks are fewer than on private banks. While liquidity and investment opportunity sets don't significantly influence the dividend policy.
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