This study aimed to analyze the influence of liqudity, profitability, leverage, and firm size of dividend policy on manufacturing companies listed on the Stock Exchange period 2012-2015. The sampling method used in this research is purposive sampling. The number of samples in this study were 113 companies. Data analysis in this study using multiple linear regression with EViews. The results of this study prove that liqudity negative and significant effect on dividend policy, profitability has no significant effect on dividend policy, levergae negative and significant effect on dividend policy, and firm size of positive and significant effect on dividend policy.