This study aimed to examine the effect of family ownership, free cash flow, profitability, growth opportunities, SIZE, managerial ownership, leverage, and liquidity to dividend policy. The object of this research are service companies listed in Indonesia Stock Exchange period 2015-2016. The sample in this study amounted 60 enterprise selected by using purposive sampling method. The analysis tool used in this study in multiple linear regression. The result of this study indicate that: family ownership has negative significant influence to dividend policy, free cash flow insignificant influence to dividend policy, profitability has positive significant influence to dividend policy, growth opportunities has negative significant influence to dividend policy, SIZE has positive significant influence to dividend policy, managerial ownership insignificant influence to dividend policy, leverage insignificant influence to dividend policy and liquidity has positive significant influence to dividend policy.