This study aims to analyze empirically the effect of profitability, firm growth, debt to equity ratio, institutional ownership, company size and operating cash flows on dividend policy.
Samples are 65 companies that go public on the Stock Exchange, where the method used is purposive sampling is a sampling method by setting certain criteria, among others: companies listed on the Indonesian Stock Exchange (BEI), dividends and have the data Detailed since 2011-2014, so that the data (n) = 260. Methods of data analysis using multiple linear regression.
Processing results can be concluded that (1) there is a significant relationship between profitability on dividend policy, (2) there is no significant relationship between the growth of the company on dividend policy, (3) there was no significant relationship between debt to equity ratio, the dividend policy , (4) there is a significant relationship between institutional ownership on dividend policy, (5) there is no significant relationship between the size of the company on dividend policy, (6) there is no significant and positive influence between operating cash flow on dividend policy.
Advice given that the period of study for future research can be extended, for example in the 5 year period, so as to multiply the number of research samples. Future research will need to use the sample in the other sector companies in the Indonesia Stock Exchange, not only in manufacturing companies that research results can be generalized not only in the manufacturing sector alone.

Keywords: profitability, firm growth, debt to equity ratio, institutional ownership, company size, operating cash flow and dividend policy