Pengaruh Profitabilitas terhadap Dividend Payout Ratio dengan Free Cash Flow dan Investment Opportunity set sebagai Pemoderasi (Studi pada Perusahaan Perbankan yang terdaftar di Bursa Efek Indonesia Periode 2014 - 2018)
This research is motivated by problems related to dividend policy. Dividend policy has an important role because it is related to the welfare of shareholders. Dividend payments are made if the company has a high profit, but a company with a low profit may not share dividends. The purpose of this study is to identify and analyze the factors that influence dividend payments that are proxy with Dividend Payout Ratio (DPR). The population in this study is all conventional / non-Sharia banking companies listed on the Indonesia Stock Exchange (IDX) from 2014 to 2018. The sampling technique used was purposive sampling which produced a sample of 11 companies. The analysis technique used is simple linear regression analysis and Moderated Regression Analysis (MRA). The results showed that profitability (ROA) had a negative effect on the dividend payout ratio. Free cash flow and Investment opportunity set are not able to moderate the effect of profitability on the dividend payout ratio. For further research, it can add independent variables to variations in research results.