Pengaruh Profitabilitas dan Likuiditas terhadap Kebijakan Dividen Emiten Sektor Energi di Bursa Efek Indonesia Periode 2023-2024

Cantika Eka Sephia Nita; Hartono Hartono; Yuliasnita Verlandes

doi:10.30640/trending.v4i1.7753

Authors

Cantika Eka Sephia Nita Universitas Islam Majapahit
Hartono Hartono Universitas Islam Majapahit
Yuliasnita Verlandes Universitas Islam Majapahit

DOI:

https://doi.org/10.30640/trending.v4i1.7753

Keywords:

Dividend Policy, Energy Sector, Liquidity, Multiple Linear Regression, Profitability

Abstract

Dividend policy is a crucial financial decision that directly impacts firm value and investment attractiveness for shareholders. However, fluctuations in financial performance among energy sector issuers—frequently affected by global commodity price volatility—also influence their certainty in determining the amount of dividends to be distributed. Therefore, this study aims to empirically analyze and examine the relationship between profitability and liquidity and dividend policy in energy sector issuers listed on the Indonesia Stock Exchange (IDX) during the 2023–2024 period. This study adopts a quantitative approach using secondary data obtained from annual financial statements on the official IDX website. The population of this study encompasses all energy sector companies, from which 32 issuers were selected through purposive sampling based on predetermined criteria. The data were processed using multiple linear regression analysis via SPSS version 26 software. The results indicate that profitability and liquidity have a positive and significant effect on the dividend policy of energy sector companies. The implications of these findings encourage management to optimize operational performance and cash flow availability to ensure sustainable dividend distributions. Meanwhile, for capital market investors, these empirical results can serve as a strategic consideration when making investment decisions focused on dividend yield.

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