Reaksi Pasar atas Pengumuman Dividen PT.Kalbe Farma saat Pandemi Covid-19

PT. Kalbe Farma is one of the issuers that earned a very large profit per share during Covid-19 pandemic, this happened because supplier medical devices and medicines needed by community government agencies, even 2020 can distribute dividends twice amid pandemic conditions. This certainly gives signal to investors public has resilience still increase its stock price when economy in recession. The purpose study see how much abnormal return trading volume activity obtained for announcement second dividend December 2020. method used research studying events. observation period was carried out study, which 5 days before after Farma. data were daily closing prices, JCI data, volume, number outstanding shares. results are significant value above 0.05 0.290. significance TVA 0.380 so it be concluded there an difference pt dividends.