Dividend Payout Ratio Issue: Sub Sector Food and Beverage Companies on the Indonesia Stock Exchange Economic

Abstract

The purpose of this study is to examine the determinants of dividend payout ratios for food and beverage sub-sector companies listed on the Indonesian Stock Exchange from 2010 to 2020 using the criterion of companies that consistently pay dividends. Purposive sampling, a non-probability sampling technique, discovered that 8 companies fit the sample criteria. Panel data regression was utilized for data analysis, and it was discovered that the Random effect model was the best model after performing Chow, Hausman, and Lagrange multiplier tests backed by classical assumption tests. Multiple linear regression analysis was performed using Eviews software version 9. The findings revealed that cash flow operations and returns on assets had a positive and significant impact on the dividend payout ratio, however sales growth had no influence.