THE EFFECT OF PROFITABILITY, LEVERAGE, FIRM SIZE AND SALES GROWTH ON DIVIDEND POLICY IN NON-CYCLICAL CONSUMER SECTOR COMPANIES LISTED ON THE IDX
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Abstract
This study aimed to determine the effect of profitability, leverage, firm size, and sales growth on dividend policy in non-cyclical consumer sector companies listed on the Indonesia Stock Exchange for the 2019-2023 period. This study used secondary data with a purposive sampling technique, and a sample size of 20 companies was selected. The analytical methods used included descriptive analysis, multicollinearity testing, and hypothesis testing, processed using the Smart PLS version 4.0 application. The study concluded that profitability and sales growth have a positive and significant effect on dividend policy. Leverage and firm size, on the other hand, do not significantly influence dividend policy.
Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas, leverage, ukuran perusahaan, dan pertumbuhan penjualan terhadap kebijakan dividen pada perusahaan sektor konsumen non-primer yang terdaftar di Bursa Efek Indonesia periode 2019-2023. Penelitian ini menggunakan data sekunder dengan teknik purposive sampling, dan ukuran sampel yang dipilih adalah 20 perusahaan. Metode analisis yang digunakan meliputi analisis deskriptif, pengujian multikolinearitas, dan pengujian hipotesis, yang diolah menggunakan aplikasi Smart PLS versi 4.0. Penelitian ini menyimpulkan bahwa profitabilitas dan pertumbuhan penjualan memiliki pengaruh positif dan signifikan terhadap kebijakan dividen. Leverage dan ukuran perusahaan, di sisi lain, tidak berpengaruh signifikan terhadap kebijakan dividen.
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