INFLUENCE OF NET INCOME AND OPERATING CASH FLOW ON DIVIDEND POLICY(AN EMPIRICAL STUDY ON MANUFACTURING SECTOR LISTED IN THE INDONESIAN STOCK EXCHANGE IN PERIOD 2010 – 2013)

MAULANI, HUSNA (2015) INFLUENCE OF NET INCOME AND OPERATING CASH FLOW ON DIVIDEND POLICY(AN EMPIRICAL STUDY ON MANUFACTURING SECTOR LISTED IN THE INDONESIAN STOCK EXCHANGE IN PERIOD 2010 – 2013). Masters thesis, UNIVERSITAS ANDALAS.

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Abstract

Dividend policy will be determined by management and management must consider the income of company and cash from that are available in the company. The total cash flow from operating activities is an indicator to determine whether the operation of company generating sufficient cash flow to pay dividends. Furthermore, cash flows also affect the gross profit and be able to predict future cash flows. In investment activity its also affects the cash flow. So cash flow and net income in the dividend policy can be determined from operating and investment activities, depending the source of fund. A company distribute dividends to shareholders every year because the company continually get income every year, while the company does not distribute dividends when the the company wants to allocate these funds as additional capital to fund the company. There are several researches which are conducted by other researcher about dividend policy and Manurung (2009) as my replication research. The research found evidence that net income and cash flow have a positive effect on dividend payout ratio, cash flow and operating activity have a more significant influence. In other period the results of dependent and indpendent variables are different and there are some factors affecting dividend policy.

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