This research aims to analyze the influence of dividend policy determinants on dividend payment either partially or simultaneously in all industry sectors except the financing industry listed on Indonesia Stock Exchange in 2016. The factors examined in this research include profitability, leverage, growth, agency cost and firm size. Data were obtained from the relevant databases and financial statements of the sampled companies. This research examines a total of 149 companies. The results revealed that profitability and growth significantly influence dividend policy. Meanwhile, leverage, agency cost, and firm size have no significant effect on dividend policy. It is suggested that the company should always pay attention to the fundamental aspects of the company, and it may determine their dividend policies to keep attracting an investor. It is best for an investor to consider a company with high profitability, low leverage, low or high growth rates, high free cash flow, and a big firm.