PENGARUH PROFITABILITAS, PERTUMBUHAN PERUSAHAAN, DAN KEBIJAKAN HUTANG TERHADAP KEBIJAKAN DIVIDEN DENGAN FREE CASH FLOW SEBAGAI VARIABEL MODERASI (Studi pada perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia periode 2015-2018)

This research aims to examine the influence of Profitability, Debt Policy, and Company Growth toward Dividend Policy with Free Cash Flow as moderated variable in manufacture companies that listed in Indonesian Stock Exchange in the period of 2015-2018. This research aims to find out the significance of the influence of Profitability, Debt Policy, and Company Growth toward Dividend Policy with Free Cash Flow as moderated variable in manufacture companies that listed in Indonesian Stock Exchange both partially and simultaneously. The research sample collection used purposive sampling method toward manufacture companies that listed in Indonesian Stock Exchange in the period of 2015-2018. The companies’ sample in accordance with the criteria determined as many as 72 companies with 174 total samples. The analysis tool used in this research was Moderated Regression Analysis (MRA). The research result shows that Profitability, Debt Policy, and Company Growth partially have significant influence toward Dividend Policy. The moderation test was able to prove Free Cash Flow to be a moderating variable or variable that strengthens the relationship between Profitability and Dividend Policy.