KEBIJAKAN PEMBAYARAN DIVIDEN BERDASARKAN EPS, LEVERAGE DAN SIZE

Abstract

This study aims to determine the difference in value Dividend Payout Ratio is based on EPS, leverage and firm size at the company listed in Indonesia Stock Exchange. The population is the company paying the dividends consistently over the period 2007-2009 and all taken as sample. Data used in this study is secondary data obtained from the Indonesian Capital Market of Directory (ICMD). Data processing is done by using the Kruskal-Wallis H test method because the data are not normally distributed. Based on the test results found a significant difference between the Dividend Payout Ratio companies that have high EPS with low EPS. Companies that have high EPS paying high dividend payout ratio than companies that have low EPS. The results also found no significant difference between the payment of Dividend Payout Ratio companies that have high leverage with companies that have low leverage, so also there is no difference between large-sized companies with a smaller company.