This study aims to determine whether there is a significant influence on the Investment Opportunity Set, Leverage and Market Risk against partial Dividend Payout Ratio and together. This research uses descriptive method and Verivikatif, population drawn from Manufacturing Companies listed on the Stock Exchange 2012-2017 period. By using purposive sampling in the sampling. Source of data used secondary data that the financial statements 15 Manufacturing Companies listed on the Stock Exchange 2012-2017 period. Analysis of the data used in this research is multiple linear analysis with significance level of 5%. The program used to analyze the data using E-Views 9. The results show that partial Investment Opportunity Set partial effect of the Dividend Payout Ratio. and leverage has a partial effect on the dividend payout ratio Market Risk While no effect partially on Dividend Payout Ratio. And together indicate that the Investment Opportunity Set, Leverage and Market Risk significant influence Dividend Payout Ratio.