An Analysis of ROA and EPS on Dividend Policy of PT Indofood Sukses Makmur Tbk's Manufacturing Shares During the 2020–2024 Period

Abstract

This research is based on the increase in share dividends in the Manufacturing sector, 
especially INDF (Indofood), which has continued to experience quite good increases over 
the last 5 years. And this share is also included in the sharia shares listed on the Jakarta 
Islamic Index 70 (JII70). Therefore, this research tries to find factors that influence the 
increase in dividends on this stock and finds two variables that may have an influence, 
namely ROA and EPS. Both have a positive influence on INDF share dividends. This 
research uses a quantitative descriptive method and the data required in this research is 
data originating from financial reports obtained through the official INDF stock website, 
namely from PT. Indofood Sukses Makmur Tbk. The research results show that the ROA 
and EPS variables simultaneously have a significant effect on dividends. And partially both 
also have a positive effect but are not significant.