The purpose of this study was to determine the effect of free cash flow, profitability, liquidity and leverage on dividend policy. The population used in this study were conventional banking companies registered with the OJK for the 2016-2021 period. The sampling technique used was purposive sampling technique in order to obtain a sample of 90 samples that met the criteria. The data analysis technique used is multiple linear regression analysis with the help of the SPSS program. Based on the results of this study, it can be concluded that the Free cash flow variable has a positive effect on dividend policy. While Prifitability has no effect on dividend policy, Liquidity has no effect on dividend policy, Leverage has no effect on dividend policy.