PENGARUH KESEMPATAN INVESTASI DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN (Studi Pada Perusahaan BUMN yang Terdaftar di BEI Periode 2011-2013)

This purpose aims to investigate or study the effect of the investment opportunity and profitability to the dividend policy in state-owned companies listed on the Stock Exchange from 2011-2013. The population in this study is a listed company on the Stock Exchange. The sample selection using purposive sampling method. The number of samples in this study is 13 companies. Hypothesis testing using multiple regression analysis, classic assumption test, and test hypotheses with SPSS version 20. The independent variable of research using investment opportunity and profitability. Investment opportunity measured using the Market-to-book value of equity (MVEBVE) while profitability seen with net income divided by total assets. The dependent variable is a proxy dividend policy Dividend Payout Ratio (DPR). The results of this research that investment opportunities have no effect on dividend policy and Profitability significant positive effect on dividend policy.

Keywords: investment opportunity, profitability, dividend policy