Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, arus kas, ukuran perusahaan, likuiditas, leverage, peluang investasi, dan corporate tax terhadap kebijakan dividen. Sampel dalam penelitian ini adalah  perusahaan manufaktur yang terdaftar di BEI periode 2012-2017. Sampel dipilih menggunakan teknik purposive sampling dan diperoleh 35 perusahaan. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linear berganda menggunakan program IBM SPSS statistik 23. Hasil penelitian menunjukkan bahwa profitabilitas dan corporate tax berpengaruh positif terhadap kebijakan dividen. Sementara arus kas, ukuran perusahaan, likuiditas, leverage ,dan peluang investasi tidak berpengaruh terhadap kebijakan dividen.

 Kata Kunci: Profitabilitas, Arus Kas, Ukuran Perusahaan, Likuiditas, Leverage, Peluang Investasi, Corporate Tax, dan Kebijakan Dividen. 

This study aims to examine the effect of profitability, cash flow, firm size, liquidity, leverage, investment opportunity, and corporate tax on dividend policy. The sample in this study were manufacture companies from the BEI for the periode 2012-2017. The sample were selected using purposive sampling technique and obtained a sample of 35 companies. The analysis technique used in this study is multiple linear regressions analysis using IBM SPSS Statistic program 23. The result of the study show that profitability and corporate tax has a positive effect on dividend policy. Then, cash flow, firm size, liquidity, leverage, and investment opportunity has no effect on dividend policy.

 Keywords: profitability, cash flow, firm size, liquidity, leverage, investment opportunity, corporate tax, and dividen policy.