THE INFLUENCE OF DIVIDEND PAYOUT RATIO POLICY IN MEDIATED EARNING PER SHARE, RETURN ON EQUITY AND RETURN ON ASSETS ON SHARE RETURN

This study aims to analyze the factors that influence stock returns. In addition, this study also aims to examine the influence of the dividend policy moderating variable on the relationship between Earning Per Share, Return On Equity, and Return On Assets on Stock Returns. To test these variables, researchers used multiple linear regression analysis tools and 48 Food and Beverage Manufacturing companies listed on the Indonesia Stock Exchange for the period 2015 – 2018. The results of this study indicate that there is a significant positive effect of Earning Per Share on Stock Returns, Return On Equity has an effect positive and significant to Stock Returns, Return On Assets has a significant positive effect on Stock Returns and Dividend Payout Ratio has a significant positive effect on Stock Returns.