This research is intended to analyze the impact of profitability, liquidity, growth, and debt policy on dividend policy. The sample on this research is using manufacturing companies listed on the Indonesia Stock Exchange period 2014-2016. This research used purposive sampling method in determining the number of samples used. The data that be used is unbalanced panel and this data has 123 annual finance reports. This research use multiple linear regression. The results of this research showed profitability and liquidity affected positively and significantly on dividend policy. Growth affected negative and significantly. While debt policy did not affect the quality of dividend paying.