This study aims to examine the influence of profitability, liquidity, institutional ownership and managerial ownership on dividend policy. This research is quantitative. The population and sample in this research are noncyclical consumer companies listed on the Indonesian Stock Exchange in 2017- 2022. This sampling technique was carried out using saturated sampling or census of 39 companies and obtained 162 data that met the criteria. This research uses multiple linear regression analysis with the help of the SPSS data processing application. The results of this research show that profitability has a positive effect on dividend policy, liquidity, institutional ownership and managerial ownership have a negative effect on dividend policy.