This study aims to examine the effect of profitability, leverage, growth and liquidity on Dividend Initiation Policy. The sample in this study are consumer goods consumer goods companies listed on the Indonesia Stock Exchange in 2013-2017. The number of companies sampled in this study were 16 companies with observations over five years so that the selected sample was 80. The method of collecting data is purposive sampling and the analysis technique used is multiple linear regression. The results showed that leverage, growth, and liquidity do not negatively influence dividend initiation policy. While the profitability variable have a positive effect on dividend initiation policy.