This study aims to find empirical evidence of the effect of managerial ownership, institutional ownership, free cash flow, and collateralizable assset on dividend policy. The population and sample used in this study is a Manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2019-2020. The sampling technique used was purposive sampling and obtained a sample of 45 companies with 70 data that have met the criteria. The analysis technique used is multiple regression analysis. Dividend policy in this study were measured using of Dividend Payout Ratio (DPR). Based on the research result, it can be concluded that managerial ownership has a positive effect on dividend policy, while institutional ownership, free cash flow and collateralizable asset have no effect on dividend policy.