Pengaruh Kesempatan Investasi, Leverage, dan Likuiditas Terhadap Kebijakan Dividen pada Perusahaan yang Terindex di JII Periode 2015-2018

Abstract

Dividend policy determines the distribution of profits between payments to shareholders or corporate reinvestment. The precentage of profits  paid to shareholders as cash dividends is the DPR (Dividend Pyout Ratio). This study was conducte to examine the effect of the variable investment opportunity, leverage, and liquidity on dividend policy in companies indexed in JII in the period of 2015-2018. The population in this study were 48 companies and the purpossive sampling method obtained 44 observations. The analysis shows that  leverage and liquidity have a negative effect on dividend policy while investment opportunities have no influence on dividend policy. The adjusted R Square value is 0,601. This means that 60,1% of the diividend policy is influenced by investment opportunity, leverage, and liquidity variables; while the remaining 39,9% is influenced by other variables not examined in this study.