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Abstract
The coal mining subsector in Indonesia experienced fluctuations in financial performance during the 2022–2024 period, which affected company profits and dividend policies. This raises questions regarding the influence of company growth and net income on the Dividend Payout Ratio (DPR). This study aims to analyze the effect of company growth and net income on dividend policy in coal mining subsector companies listed on the Indonesia Stock Exchange during 2022–2024. The research employs a quantitative approach using multiple linear regression analysis. Samples were determined through purposive sampling, with secondary data obtained from annual financial reports. The results show that company growth has a significant effect on dividend policy. Similarly, net income also has a significant effect on dividend policy. This study contributes to corporate finance literature by identifying factors influencing dividend policy and provides insights for investors in evaluating dividend sustainability in the coal sector. The research is limited to the coal subsector during the 2022–2024 period and focuses on two main variables. Future research is suggested to include other variables such as liquidity, leverage, and market conditions.
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References
- Aditya, D., & Fitria, A. (2022). Pengaruh Collateralizable Assets, Likuiditas Profitabilitas Dan Pertumbuhan Perusahaan Terhadap Kebijakan Dividen. Jurnal Ilmu dan Riset Akuntansi (JIRA), 11(7).
- Arham, A., Arfianty, A., & Amanda, A. (2023). Analisis rasio solvabilitas terhadap kinerja keuangan yang terdaftar di Bursa Efek Indonesia (BEI). Prosiding Konferensi Ilmiah Akuntansi, 10.
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- Devi, E. (2020). Pengaruh Profitabilitas, Likuiditas, Pertumbuhan Perusahaan, dan Ukuran Perusahaan Terhadap Kebijakan Dividen (Doctoral dissertation, Universitas Putra Bangsa
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- Ginting, M. A. B., Nainggolan, S. G. V., & Afrida, F. (2024). The Effect of Sales Growth and Solvency on Tax Avoidance in Coal Mining Companies on the Indonesia Stock Exchange. Jurnal Akuntansi Bisnis Eka Prasetya Penelitian Ilmu Akuntansi, 10(1), 64-71.
- Ivani, T. P., & Efendi, D. (2024). Pengaruh Pertumbuhan Perusahaan, Keputusan Investasi dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi. Jurnal Ilmu dan Riset Akuntansi (JIRA), 13(5).
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- Kharisma, P. (2020). Pengaruh Laba Bersih Dan Arus Kas Operasi Terhadap Kebijakan Dividen Perusahaan Manufaktur Di Bursa Efek Indonesia (Doctoral dissertation, Prodi Akuntansi).
- Khoerunnisa, D. H., & Hariyanti, A. I. (2024). Analisis Pengaruh Pertumbuhan Laba Bersih Dan Pertumbuhan Arus Kas Operasi Terhadap Kebijakan Dividen. JAKA (Jurnal Akuntansi dan Keuangan): Research, Invent, Solve and Share, 1(1), 24-36.
- Mauris, F. I., & Nora, A. R. (2019). The effect of collaterallizable assets, growth in net assets, liquidity, leverage and profitability on dividend policy. Budapest International Research and Critics Institute (BIRCI-Journal), 4(1), 937-950.
- Ramma, A. L., & Gunawan, J. (2023). Pengaruh pertumbuhan perusahaan, earning per share, dan struktur modal terhadap kebijakan dividen dengan umur perusahaan sebagai variabel kontrol. Jurnal Ekonomi Trisakti, 3(2), 3609-3618.
- Sharma, A. (2023). Effect of collateralizable assets, growth in net assets, liquidity, leverage and profitability on dividend policy of Nepalese commercial banks. Perspectives in Nepalese Management, 31.
- Sholichah, F., Asfiah, N., Ambarwati, T., Widagdo, B., Ulfa, M., & Jihadi, M. (2021). The effects of profitability and solvability on stock prices: Empirical evidence from Indonesia. The Journal of Asian Finance, Economics and Business, 8(3), 885-894.
- Widjanarko, W., & Safitri, N. (2020). Pengaruh Laba Bersih, Hutang Bank & Arus Kas Operasi Terhadap Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar Di Bei Periode 2013 –2015. Jurnal Akuntansi Dan Bisnis Indonesia (JABISI), 1(2), 50-63.
References
Aditya, D., & Fitria, A. (2022). Pengaruh Collateralizable Assets, Likuiditas Profitabilitas Dan Pertumbuhan Perusahaan Terhadap Kebijakan Dividen. Jurnal Ilmu dan Riset Akuntansi (JIRA), 11(7).
Arham, A., Arfianty, A., & Amanda, A. (2023). Analisis rasio solvabilitas terhadap kinerja keuangan yang terdaftar di Bursa Efek Indonesia (BEI). Prosiding Konferensi Ilmiah Akuntansi, 10.
Bramaputra, E. D., Musfitria, A., & Triastuti, Y. (2022). Pengaruh likuiditas, leverage, pertumbuhan perusahaan, dan profitabilitas terhadap kebijakan dividen pada perusahaan manufaktur makanan minuman yang terdaftar pada Bursa Efek Indonesia periode 2013-2015. El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam, 3(3), 424-439.
Devi, E. (2020). Pengaruh Profitabilitas, Likuiditas, Pertumbuhan Perusahaan, dan Ukuran Perusahaan Terhadap Kebijakan Dividen (Doctoral dissertation, Universitas Putra Bangsa
Dwipayani, N. M. A., & Anggara, I. W. G. W. P. (2025). Influence of Profitability, Leverage and Company Growth on Dividend Policy (Study on Main Board and Development Board Index Companies Listed on the Indonesian Stock Exchange for the 2018-2022 Period). Dinasti International Journal of Economics, Finance & Accounting (DIJEFA), 5(6).
Ginting, M. A. B., Nainggolan, S. G. V., & Afrida, F. (2024). The Effect of Sales Growth and Solvency on Tax Avoidance in Coal Mining Companies on the Indonesia Stock Exchange. Jurnal Akuntansi Bisnis Eka Prasetya Penelitian Ilmu Akuntansi, 10(1), 64-71.
Ivani, T. P., & Efendi, D. (2024). Pengaruh Pertumbuhan Perusahaan, Keputusan Investasi dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi. Jurnal Ilmu dan Riset Akuntansi (JIRA), 13(5).
Jehuru, M. S. A., & Amanah, L. (2022). Pengaruh Arus Kas Operasi, Laba Bersih dan Investment Opportunity Set Terhadap Dividen Kas. Jurnal Ilmu dan Riset Akuntansi (JIRA), 11(2).
Kharisma, P. (2020). Pengaruh Laba Bersih Dan Arus Kas Operasi Terhadap Kebijakan Dividen Perusahaan Manufaktur Di Bursa Efek Indonesia (Doctoral dissertation, Prodi Akuntansi).
Khoerunnisa, D. H., & Hariyanti, A. I. (2024). Analisis Pengaruh Pertumbuhan Laba Bersih Dan Pertumbuhan Arus Kas Operasi Terhadap Kebijakan Dividen. JAKA (Jurnal Akuntansi dan Keuangan): Research, Invent, Solve and Share, 1(1), 24-36.
Mauris, F. I., & Nora, A. R. (2019). The effect of collaterallizable assets, growth in net assets, liquidity, leverage and profitability on dividend policy. Budapest International Research and Critics Institute (BIRCI-Journal), 4(1), 937-950.
Ramma, A. L., & Gunawan, J. (2023). Pengaruh pertumbuhan perusahaan, earning per share, dan struktur modal terhadap kebijakan dividen dengan umur perusahaan sebagai variabel kontrol. Jurnal Ekonomi Trisakti, 3(2), 3609-3618.
Sharma, A. (2023). Effect of collateralizable assets, growth in net assets, liquidity, leverage and profitability on dividend policy of Nepalese commercial banks. Perspectives in Nepalese Management, 31.
Sholichah, F., Asfiah, N., Ambarwati, T., Widagdo, B., Ulfa, M., & Jihadi, M. (2021). The effects of profitability and solvability on stock prices: Empirical evidence from Indonesia. The Journal of Asian Finance, Economics and Business, 8(3), 885-894.
Widjanarko, W., & Safitri, N. (2020). Pengaruh Laba Bersih, Hutang Bank & Arus Kas Operasi Terhadap Kebijakan Dividen Pada Perusahaan Manufaktur Yang Terdaftar Di Bei Periode 2013 –2015. Jurnal Akuntansi Dan Bisnis Indonesia (JABISI), 1(2), 50-63.