This study aims to determine the effect of good corporate governance on dividend policy. The study used a sample of all non-financial companies listed on the Indonesia Stock Exchange. T h i s research also used control variables of firm size, profitability, leverage, firm growth, and free cash flow. The results show that the variables of good corporate governance, firm growth and free cash flow had a positive significant effect on the dividend payout ratio. Meanwhile, the variable firm size, leverage, and profitability had a significant negative result on the dividend payout ratio.