Determinants of Corporate Dividend Policy: A Factorial Analysis

Jamian Purba; Dian Sulistyorini Wulandari; Khansa Naelil Muna

doi:10.55927/ijems.v2i1.8141

Authors

Jamian Purba Universitas Pelita Bangsa
Dian Sulistyorini Wulandari Universitas Pelita Bangsa
Khansa Naelil Muna Universitas Pelita Bangsa

DOI:

https://doi.org/10.55927/ijems.v2i1.8141

Keywords:

Dividend Payout Ratio, Firm Size, Current Ratio, Return on Assets

Abstract

The Dividend Payout Ratio serves as a crucial determinant in deciding whether a company will distribute its end-of-year profits to shareholders through dividends or retain them to augment capital for future investments. This study focuses on assessing the impact of company size and profitability on the dividend policy of entities operating in the property, real estate, and building construction service sectors, as listed on the Indonesia Stock Exchange. The research, spanning a three-year period from 2018 to 2020, relies on secondary data, employing purposive sampling to select 24 out of 72 service companies based on the availability of complete financial reports. Utilizing multiple linear three reanalyses, the research reveals that company size does not significantly influence dividend policy, while liquidity positively correlates with dividend policy. Conversely, profitability shows no discernible effect on dividend policy. The study concludes that the liquidity ratio plays a pivotal role in shaping dividend policy. In contrast, factors like firm size and Return On Assets do not exert a significant impact on the Dividend Payout Ratio

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