<![CDATA[This study aims to analyze the effect of profitability ratios (Return on Assets / ROA) and liquidity ratios (Current Ratio / CR) on dividend policy (Dividend Payout Ratio / DPR) in property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) for the 2023–2025 period. The research methodology adopts a quantitative causal associative approach. Sample selection was conducted using a purposive sampling technique, resulting in 20 target companies with 60 observation units over a 3-year period. Data analysis techniques include descriptive statistics, classic assumption tests, multiple linear regression, t-test, F-test, and the coefficient of determination. The partial t-test results indicate that profitability (ROA) has a positive but non-significant effect on dividend policy (sig. 0.584 > 0.05). Conversely, liquidity (CR) has a positive and statistically significant effect on dividend policy (sig. 0.032 < 0.05). Simultaneously (F-test), profitability and liquidity exert a significant effect on dividend policy with an F-value of 3.250 and a significance level of 0.046 < 0.05. These findings imply that property and real estate firms prioritize internal cash liquidity over accounting profit metrics when deciding dividend distribution.]]>
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