The purpose of this study to examine influence of liquidity, leverage, growth and profitability on dividend policy. Empirical studies on manufacturing companies listed on indonesia stock exchange in period 2012-2016. This research uses sampling technique that is using the purpossive sampling so that 266 sample. Analyze technique that use in this research is multiple regression analysis. The result of this research is indicate that liquidity hasn’t significant effect on dividend policy, leverage has a significant negative effect on dividend policy, growth has a significant negative effect on dividend policy, and profitability has a significant positive effect on dividend policy.