PENGARUH KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP RETURN SAHAM PADA PERUSAHAAN BANK BUKU 4 (EMPAT) YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2018-2022

The banking subsector is a part of the stock sector in the capital market that is related to financial activities, which include providing services such as savings, lending and investment. This study aims to determine the impact of financial performance and dividend policy on stock returns. The group of variables studied is BUKU 4 bank companies listed on the Indonesian Stock Exchange. More specifically discussing 10 companies from the 2018-2022 period and selected using purposive sampling techniques. This research uses financial performance variables and dividend policy as independent variables that will determine the health of a bank, which will ultimately influence stock returns. Multiple regression analysis technique was chosen as the data analysis method. Eviews 12 is used as a tool in hypothesis testing and research data processing. The research results show that the classical data assumption test is normally distributed, shows no symptoms of multicollinearity, no autocorrelation, and no symptoms of heteroscedasticity. The independent variable with the coefficient of determination test has an influence of 14.12% on the variable depends. Partially, the financial performance variables which are proxied as Capital Adequacy Ratio (CAR) and Return On Equity (ROE) have a significant effect on stock returns. On the other hand, Non Performing Loans (NPL), Loan To Deposit Ratio (LDR), Net Interest Margin (NIM) and dividend policy contained in the Dividend Payout Ratio (DPR) have no influence on stock returns, both financial performance and dividend policy simultaneously. has an influence but is not significant on stock returns.

Keywords: Financial Performance, Dividend Policy, Stock Returns