This study aims to determine the effect of profitability, company size, institutional ownership, and managerial ownership towards dividend policy. The population in this study is consumer goods industry companies listed on the Indonesia Stock Exchange. The data used are secondary data in the form of quantitative data from annual reports and financial statements of consumer goods industry companies listed on the Indonesia Stock Exchange during 2016-2018. Based on the results of research analysis using multiple linear regression test, showed that profitability, company size, and institutional ownership have a significant positive effect towards dividend policy and managerial ownership has no effect towards dividend policy.