This study aimed to analyze the effect of Profitability, Operating Cash Flow, Leverage and Previous Dividend of the Dividend Policy in Non Financial companies listed in Indonesia Stock Exchange period 2011-2015. In this study there were 192 samples used by purposive sampling method. The analysis technique usedhere is multiple regressions and hypothesis test using t-statistic to examine partial regression coefficient and F-statistic to examine the mean of mutual effect with level of significance 0,05 or 5%. In addition, classical assumption is also performed including normality test, multicolinearity test, heteroscedasticity test and autocorrelation test. Based on the analysis that has been done shows that Profitability and Leverage is negative and significant impact on Dividend Policy, Operating Cash Flow not significant effect on Dividen Policy and Previous Dividend negative and significant impact on the dividend policy.