Pengaruh Kinerja Keuangan Terhadap Dividend Payout Ratio (Studi Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia Tahun 2019-2021)

Abstract

The purpose of this study is to analyze the effect of financial performance such as Profitability, Leverage and Liquidity on the Dividend Payout Ratio using control variables such as firm size, firm age, and growth. The population of this study consists of 171 manufacturing companies that listed in Indonesia Stock Exchange (IDX) year 2019-2021. The sampling technique used was purposive sampling in order to obtain 45 companies to be studied. The type of data used is secondary data. The data analysis technique used is panel data regression analysis. The data were obtained and collected using the Microsoft Excel. Furthermore, the data then processed by using the Eviews12 software. The results of the regression (fixed effects) analysis showed that profitability, leverage, liquidity, firm size, firm age, and growth simultaneously influence the dividend payout ratio. Partially, the profitability has a positive significant effect on the dividend payout ratio. Leverage and liquidity does not have significant effect on the dividend payout ratio. Firm size and growth have a negative significant effect on the dividend payout ratio. Firm age does not have significant effect on the dividend payout ratio