Main Article Content
One of the most important decision for a financial decision is Dividend Policy. Dividend Policy is related to the decision of what portion of the profits to be paid as dividend and what part reinvested in the company as retained earning. There are some factors that influence on Dividend Payout Ratio(DPR). This study aims (1) to analyze the effect of Cash Ratio (CR), Debt to Equity Ratio (DER), Net Profit Margin (NPM), Return on Investment (ROI), and Tax Rate (TR) on Deviden Payout ratio (DPR), (2) to analyze the effect of ROE on DPR (3) to analyze effect of CR, DER, NPM, ROI, TR on DPR (4)to analyze effect of CR, DER, NPM, ROI, TR on DPR with ROE as a mediating variable. The population of this research is 41 mining companies listed on BEI in the period of 2010-2014. Sampling method used is purposive sampling method. Data analysis technique used on this study is Path Analysis and t test hypotesis testing. The result showed that (1) CR, NPM, TR do not affect on ROE, while DER and ROI have positif effect on ROE (2) all the independent variables (CR,DER,NPM,ROI,TR,ROE) partially have no effect on DPR (3) NPM affect on DPR through ROE as a intervening variable.