effect of profitability and leverage on dividend policy with investmentopportunity set as a moderating variables in manufacturing companies listed onbei period 2014–2018

This study aims to analyze the effect of profitability and leverage on dividend policy with theinvestment opportunity set (ios) as a moderating variable in manufacturing companies listed on thebursa efek indonesia (bei) from 2014 to 2018. the population in this study amounted to 158manufacturing companies, 20 manufacturing companies were obtained by using purposive samplingtechnique, this type of research is associative causal. the technique used in this research is descriptivestatistical analysis technique using the spss 24 program. the results of this study indicate thatprofitability has a significant positive effect on dividend policy. leverage has no effect on dividendpolicy. the investment opportunity set (ios) is unable to moderate the relationship between profitabilityand dividend policy. the investment opportunity set (ios) is also unable to moderate the relationshipbetween leverage and dividend policy.