The Determinants of Dividend Policy: An Empirical Study of Inconsistent Distribution of Dividends Using Balanced Panel Data Analysis

<p>The inconsistent distribution of dividends is a unique phenomenon and it needs to be examined. Therefore, the purpose this study examine ten predictors affecting dividend policy dividends. This used purposive sampling method analyze data that were obtained from total sample 133 observation objects collected in 19 real estates, property, building construction companies listed on IDX Between 2013 - 2019. Furthermore, hypotheses testing statistical analysis tool hierarchical multiple panel regression with Least Squares Dummy Variables. The results A are firm risk, financial leverage, investment opportunity affect policy. Meanwhile, B company opportunity, previous dividend, although had no effect due different direction influence. proves determinants relevance parametric Moreover, useful for managerial practitioners pay attention increasing performances ensure investors obtain optimal return their dividend.</p>