This study aims to examine the influence of company characteristics on dividend policy in firms listed on the Indonesia Stock Exchange. The characteristics analyzed include independent commissioners, number of directors, firm size, profitability, debt ratio, company risk, and asset structure. The research method employed is a fixed effect regression analysis with panel data from companies over the period of 2018 to 2022. The research findings reveal that firm size has a significant positive influence on dividend policy. On the other hand, profitability, debt ratio, and asset structure show significant negative influences on dividend policy. The percentage of independent commissioners, the number of directors, and company risk were found to have no impact on dividend policy. This study is applied to companies in Indonesia and contributes to the literature on dividend policy by considering various company characteristics. One limitation of this study is the existence of companies that distribute dividends in two or more periods in different years, which could ultimately affect the accuracy of the research results. The implications of this study highlight the importance for company managers to consider company characteristics when formulating dividend policies. Additionally, the findings of this research can be used by investors to make investment decisions based on a company's dividend policy.