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All Journal Jurnal Riset Bisnis dan Manajemen
Maria Lusiana Yulianti
Universitas Pendidikan Indonesia
Economics, Econometrics & Finance

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DIVIDEND POLICY AND PROFITABILITY: AN EMPIRICAL ANALYSIS OF COMPANIES LISTED ON THE IDX Maria Lusiana Yulianti; Budi Supriatono Purnomo; Imas Purnamasari; Maya Sari
Jurnal Riset Bisnis dan Manajemen Vol. 19 No. 1 (2026): February Edition
Publisher : Faculty of Economic and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrbm.v19i1.37720

Abstract

This study investigates the relationship between dividend policy and profitability among companies listed on the Indonesia Stock Exchange (IDX) during 2020-2024. Employing panel data analysis on manufacturing and service sector firms, this research examines how profitability metrics influence dividend payout decisions. The findings reveal significant positive relationships between ROA, ROE, and dividend payout ratios, supporting signaling theory. Firm size, leverage, and free cash flow are identified as important determinants of dividend policy. Results provide valuable insights for investors, managers, and policymakers, suggesting that profitable firms distribute higher dividends to signal financial strength and reduce agency conflicts.
Co-Authors Imas Purnamasari Maya Sari Purnomo, Budi Supriatono