PENGARUH FREE CASH FLOW, PROFITABILITAS, LEVERAGE, DAN SALES GROWTH TERHADAP DIVIDEND PAYOUT RATIO DI TENGAH PANDEMI COVID-19

(Studi Empiris Pada Perusahaan LQ45 Yang Terdaftar Di Bursa Efek Indonesia)

THE INFLUENCE OF FREE CASH FLOW, PROFITABILITY, LEVERAGE, AND SALES GROWTH ON DIVIDEND PAYOUT RATIO IN THE MIDDLE OF PANDEMI COVID-19

(Empirical Study on LQ45 Companies Listed on the Indonesian Stock Exchange)

Tujuan dari penelitian ini adalah untuk mengetahui hubungan Pengaruh Free Cash Flow, Profitabilitas, Leverage, dan Sales Growth terhadap Dividend Payout Ratio. Sampel dalam penelitian ini adalah 28 perusahaan dari indeks LQ45 dan dipilih berdasarkan kriteria tertentu yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020-2021. Penelitian ini menggunakan analisis regresi linier berganda dengan SPSS 22 untuk menguji hipotesis.

Hasil penelitian menunjukkan bahwa variabel independen secara simultan berpengaruh signifikan terhadap dividend payout ratio. Sedangkan secara parsial, hasil menunjukkan bahwa Free Cash Flow dan Leverage tidak berpengaruh terhadap Dividend Payout Ratio. Profitabilitas dan Sales Growth berpengaruh signifikan terhadap Dividend Payout Ratio.

Kata Kunci: Dividend Payout Ratio, Free Cash Flow, Profitabilitas, Leverage, dan Sales Growth.

The purpose of thi research is to investigate the relation of the Effect of Free Cash Flow, Profitability, Leverage, and Sales Growth on the Dividend Payout Ratio. The sample in this research are 28 companies from the LQ45 index and have been selected based on certain criteria that are listed on the Indonesia Stock Exchange (IDX) for the 2020-2021 period. This research used multiple linear regression analysis with SPSS 24 to test the hypothesis.

The result show that the independent variable simultaneously have a significant effect on the dividend payout ratio. While partially, the results show that Free Cash Flow and Leverage have no effect on the Dividend Payout Ratio. Profitability and Sales Growth have a significant effect on the Dividend Payout Ratio.

Keywords: Dividend Payout Ratio, Free Cash Flow, Profitability, Leverage, Sales Growth