Abstract :
Companies listed on the Indonesia Stock Exchange are required to submit annual reports, including those related to the Dividend Policy. This study aims to examine the Profitability, Liquidity, Investment Opportunity Set, Managerial Ownership and the Independent Board of Commissioners against the Dividend Policy. The sample of this study uses a sample of companies in the industrial sector listed on the Indonesia Stock Exchange in 2017 ? 2023. Sample selection is based on certain criteria using the purposive sampling method. The data used in the study contained 63 observation data from 9 companies for 7 years of reporting. The data analysis method uses Eviews9. The test results show that Profitability and managerial ownership have a positive and insignificant effect on the Dividend Policy, while Liquidity has a positive and significant effect on the Dividend Policy, and the Investment Opportunity Set and the Independent Board of Commissioners have a negative and insignificant effect on the Dividend Policy