This study ains to analyze the effect of Profitability, Leverage, And Institutional Ownership To Dividend Policy And Firm Value. The object in this research is the manufacture companies listed on the Indonesia stock exchange in the period 2014-2017. On this research obtained a sample of 189 with a period of observation for 4 years. Data analysis techniques that is used in this research is multiple linear regression analysis by using SPSS 21. The results of this research show that the Profitability and Institutional Ownership significantly positive affect againt Dividend Policy, while Leverage significantly negative affect againt to Dividend Policy. The Profitability and Institutional Ownership significantly positive affect againt Frim Value, while Leverage does not affect to Frim Value.