PENGARUH ARUS KAS OPERASI TERHADAP PEMBAYARAN DIVIDEN TUNAI

Fund is an important money supply for company. To vend the share is one

of the means to get money from the investor. The investors buy the share and get

the dividend from company since they invested money for the company. Company

decision’s to share and pay the dividends is one thing that needs to be considered

partinent to many aspects.

This research is conducted to find if there is significant influence between

operation cash flow on dividend payout. The subjects of research are insurance

companies that registered in Bursa Efek Jakarta. Data used in this report are

Cash Flow report in 1998,1999,2000,2001,2002,2003,2004 and 2005.

Operational variable used in this research is independent variable of

operation cash flow (X), while dependent variable is cash dividend (Y). The

method used is descriptive method with survey approaching using sample taking

technique of Purposive Sampling. Hypothesis test is conducted using parametic

analysis that is simple linier regression, Pearson Correlation, Normality test and

t-test, with level of significant 5%.

The research result shows that operation cash flow has significant influence

on dividend payout. It shown by result with t-test (2,828>2,0252) using level of

significant 5%. Operation cash flow has influence on dividend payout and the

correlation is positive with correlation level is 0,411. R2 number in this research

is 0,174 or 17,4%, meanwhile the rest is 82,6% is affected by other factors.

Keywords : Operation cash flow, Dividend payout of insurance company