This study airned to examine the effect of public ownership, institutional ownership, profitability and firm size on dividend policy. Samples used in this study the were property & real estate sector companies listed on the Indonesia Stock Exchange (IDX) the 2017-2020 periods. The sampling technique used is purposive sampling. The data sample was during obtained by 25 companies with 77 data samples that met the criteria. The data sources for this research were financial annual reports published on the website www.idx.co.id. The data analysis model used is multiple linear regression analysis. The results in this study showed that institutional ownership, profitability and firm size have positive effects on dividend policy, while public ownership has no effect on dividend policy.