Abstract :
This study aims to examine the factors that influence the dividend policy of listed companies on the Stock Exchange. The population in this study are all companies listed on the Stock Exchange. Sample using purposive sampling method. The research sample was obtained as 129 companies. Hypothesis testing using multiple regression analysis with SPSS version 17. Which shows that (H1) which states that the higher the managerial ownership the lower the dividend policy, (H2) which states that the higher institutional ownership, the lower the dividend policy, (H3) which states that the higher the debt policy the lower the dividend policy, (H4) which states that the higher the profitability, the lower the dividend policy, ( H5 ) which states that the higher the market risk, the lower the dividend policy, (H6) which states that the larger the size the higher the company's dividend policy, ( H7 ) which states that the higher the earning per share value the higher the dividend policy.