The Research aimed to examine the effect of institutional ownership, board of
commissioners, doard of director, independent board of commissioners and
fundamental factors on dividend policy. This research is quantitive. Populations
in this study are property, real estate and building construction company listed on
the Indonesia Stock Exchang in the 2016-2019. The sample selection used
purposive sampling technique and obtained 22 companies as sample with 82
observational data. Data Analysis method used multiple linier regression analysis
by the Statistical Package for Social Science (SPSS) application version 23. The
result of this study indicate that board of director variable has a positive effect on
dividen policy. While institutional ownership, board of commissioners,
independent board of commissioners has no positive effecton dividen policy.
While profitability has no effect negative effect on dividen policy.