This study analyzes the effect of profitability, liquidity, growth corporate, and debt policy to dividend policy on manufacturing companies listed in indonesia stock exchange periode 2011-2016. There are 54 companies as samples that fit the criteria of this study. The data used is secondary data from the annual financial statements obtained from the Indonesia Stock Exchange website. Hypothesis testing of this research using statistical techniques of multiple linear regression analysis. The result of this study indicate that : (1) profitability has a positive effect on dividen policy ; (2) liquidity, corporate growth, and debt policy has a negative effect dividend policy.