Pengaruh Likuiditas, Leverage, Pertumbuhan Perusahaan, dan Profitabilitas terhadap Kebijakan Dividen pada Perusahaan Manufaktur Makanan Minuman yang Terdaftar pada Bursa Efek Indonesia Periode 2013-2015

Abstract

Dividend distribution is a complex problem in the company due to the difference of interests between shareholders and company management which is often referred to as agency problems. The type of research used is causative research. with the research method in the form of secondary data collection, namely in the form of the company's annual financial statements obtained from the report of the Indonesia Stock Exchange (IDX). The data analysis model used is multiple linear regression analysis. The results of this study indicate that partially Current Ratio (CR) has a positive effect on dividend payout ratio (DPR), partially Debt To Equity Ratio (DER) has a negative effect on dividend payout ratio (DPR), Growth partially has a negative effect on dividend payout ratio (DPR), Return On Assets (ROA) partially has a positive and significant effect on dividend payout ratio (DPR). Current Ratio (CR), Debt to Equity Ratio (DER), Growth, and Return On Assets (ROA) have a positive and significant effect on dividend policy. The magnitude of the coefficient of determination (adjusted R square) is 0.324. This means that 32.4 percent of the DPR variables can be explained by the independent variables in this study, while the remaining 67.6 percent is explained by other variables outside the model.

Keywords:  Liquidity, Leverage, Company Growth, Profitability, and Dividend Policy.