PENGARUH PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN TUNAI DENGAN LIKUIDITAS SEBAGAI VARIABEL MODERASI (Studi terhadap Perusahaan manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2015 - 2018)

Abstract

In financial policy where the dividend policy becomes an important consideration,
not only in terms of company management, but also from shareholders. Shareholders
will propose dividend distribution if the company is in profit. Growth in manufacturing
companies that tend to be good and generate (profits) will be easier to see profitability
affecting the dividend payout ratio and of course with a stable dividend distribution.
The purpose of this study: 1) To find out whether profitability has a positive and
significant effect on cash dividend policy on manufacturing companies and 2) To find
out the effect of liquidity that is owned, can it strengthen the relationship between
profitability on dividend policy on manufacturing companies. The approach taken in
this research is a quantitative approach. The sample selection method in this study is
purposive sampling, which is the sample selection method using certain criteria so that
it can get 10 samples of manufacturing companies. The analytical method used is
descriptive statistics, simple regression analysis (simple regression analysis) and
moderation regression analysis (Moderate Regression analysis) with pure moderator
test, coefficient of determination, F test and t test. The test results prove that
profitability has a positive and significant impact on cash dividend policy on
manufacturing companies. Liquidity as a moderating variable is able to strengthen the
relationship between profitability and cash dividend policies in manufacturing
companies. The results of this study are expected to provide information to the public
and outside parties or investors to make investment decisions and can assess the
financial performance of a company.

Keyword : Profitabilitas, Kebijakan Dividen Tunai dan Likuiditas