“…The higher the value of DPR, the higher the profitability of the company and the return that investors will receive.This is in accordance with the research results of [28], [18], [29], [22], [30], [24], [31], [32], [9], [12], [18], [33], [27], [14], and [34] that dividend policy affects firm value. Different research results found [17], [13], [35], [16], and [5] that dividend policy had no effect on firm value. The results of previous studies and theories explain that dividend policy has an effect on firm value.…”