PENGARUH PROFITABILITAS, LIKUIDITAS, DAN LEVERAGE TERHADAP KEBIJAKAN DIVIDEN (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2018 -2020)

Abstract

The aims of this study was to determine the effect of Profitability (ROA), Liquidity (CR), and Leverage (DER) on Dividend Policy (DPR). This research was conducted because there are still differences in the results of previous studies between one study and another. This research was conducted using secondary data. The research method used is descriptive quantitative method. The sampling technique used is purposive sampling. Of the 30 companies, only 13 companies were taken as samples, because they have complete financial statements for 2018-2020. The analytical method used is multiple linear analysis with data processing using the Eviews 12.By using regression analysis, it can be seen that Profitability (ROA) has a significant negative effect on the Dividend Payout Ratio (DPR). Liquidity (CR) has a positive and insignificant effect on the Dividend Payout Ratio (DPR). Leverage (DER) has a negative and insignificant effect on the Dividend Payout Ratio (DPR). In addition, the value of Adjusted R² is 50.98%. This means that 49.02% is influenced by other variables not examined in this study. Simultaneously there is a positive and significant influence between the variables of profitability (ROA), liquidity (CR), and leverage (DER) on dividend policy.