T The studys purpose is to acknowledge the factors that influence of dividend policy. This study aims to determine the factors that influence dividend policy. The sample used in this study were non-financial companies in Indonesia Stock Exchange (BEl) in the period 2005 to 2009. Independent variables in this research is the leverage, institutional ownership, proportion of institutional ownership, profitability, business risk, asset structure, asset liquidity, growth rate, and firm size, while the dependent variable is the dividend policy. By using purposive sampling, the number who become this study sample of 40 companies on non-financial firms. Model analysis of the data used were pooled logic regression models. Based on the pooled logit regression models showed that the leverage, institutional ownership, business risk and firm size have an influence on dividend policy. However, in proportion of institutional ownership, profitability, asset structure, asset liquidity, and growth rate, was not found significant results dividend policy. These results show the company management need to consider factors that include dividend policy decisions in setting the dividend payout policy to shareholders.