PENGARUH PERTUMBUHAN AKTIVA, LABA, DAN ARUS KAS BEBAS TERHADAP TINGKAT DIVIDEN TUNAI (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2008-2010)

Abstract

Dividends is the prospectus of the shares that covered by the company. Investors consider income to predict future dividend. There are several factors that influence the level of dividends such as asset growth, net income, and cash flow. The research designed to examine the effect of growth variable, net income variable, and free cash flow variable toward the level of cash dividends of the listed companies on the Indonesia Stock Exchange (IDX) periods of 2008-2010 The total population is 396 companies listed on the Indonesia Stock Exchange periods of 2008-2010. The sampling technique used purposive sampling. Research data is obtained from the publicly-listed companies on the Indonesia Stock Exchange (www.idx.co.id). 90 companies are qualified to be used as the research samples. Analysis technique used multiple regression with adjusted R2 and Hypotheses testing by t-statistic and F-statistik to examine the simultaneous effect with a significant probability of 5%. The results indicate that growth variable do not have significant effect, net income variable do not have significant efect, and free cash flow variable have a positive and significant effect. Investors are suggested to consider the published information by the company in making investment decisions.