This study aims to determine the effect of liqudity, profitability, on dividend policy. The object of this study uses manufacturing companies listed on the Indonesia Stock Exchange. The data used are secondary data in the form of annual financial statements for the period 2014-2018. The sampling technique used in this study was purposive sampling. Data analysis techniques used in this study are descriptive statistics, classic assumption tests, multiple regression analysis. The results of the analysis show that return on assets has a significant positive effect on dividend policy, net profit margin does not have a significant negative effect on dividend policy, current ratio does not have a significant negative effect on dividend policy and quick ratio does not have a significant positive effect on dividend policy.