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This research aims: 1). To analyze the effect of the current ratio on dividends per share. 2). To analyze the effect of the ratio of debt to equity to dividends per share. 3). To analyze the effect of growth assets on dividends per share. 4). To analyze the effect of earnings per share on dividends per share. 5). To analyze the effect of current ratio, debt to equity ratio, growth assets, and earnings per share to dividends per share. This research is included in the comparative causal. The study population is manufacturing companies listed on the Indonesia Stock Exchange in 2014-2018. Using the purposive sampling method, there are 57 companies that meet the criteria with a total of 15 companies. Data analysis technique is multiple panel data regression analysis used to examine the relationship between the independent variable and the dependent variable. The results of the study show that the current ratio variable partially has a positive but not significant effect on dividends per share, the debt to capital ratio variable has a positive but not significant effect on dividends per share, the asset growth variable has a positive but not significant effect. no significant effect on dividends per share, and earnings per share variable has a positive and significant effect on dividends per share.