PENGARUH PROFITABILITAS DAN DEBT TO EQUITY RATIO TERHADAP DEVIDEN PAYOUT RATIO PADA PERUSAHAAN AGRIKULTUR YANG TERDAFTAR DI BEI PERIODE TAHUN 2012-2015

Abstract

This research aims to know and test the effect of profitability, leverage to the company's dividend payout ratio on agriculture listed on the Indonesia Stock Exchange (BEI). Given the dividend payout ratio policy has an important impact for many parties involved. For shareholders or investors, dividend represents their return on investment of share ownership issued by other companies. For the management, dividend division will reduce the cash owned by the company so this causes the company's opportunity to make investments become reduced.
The purpose of the company from the standpoint of financial management is to maximize the wealth of shareholders or stockholders. Financial management is one of the strategic functions related to financial processing. This processing is aimed at making the company able to generate profits to increase the value of the firm and improve the welfare of shareholders. The finance manager manages the company's financial assets by focusing on three decisions, namely financial decisions, investment decisions and dividend policies.

Profitability is the first factor to be considered by directors in paying dividends. The company's profitability has a positive influence on divident policies. The higher the profitability of the company, the higher the cash flow in the company, and it is expected that the business will pay higher dividends.
This study uses secondary data that is on agricultural companies listed on the Indonesia Stock Exchange in 2012 until 2015. Samples taken from the population through purposive sampling method that is as many as 9 companies. The analysis method used is classical assumption analysis that is (1) Normalization test, (2) multicolinearity test, (3) Auto correlation test. To test the hypothesis by using multiple regression that is by (2) partial test of hypothesis (Test t), (2) Test simulan (Test F) and (3) coofisien determinasi (R2)..
Keyword : Profitability, leverage, dividend payout ratio