The purpose of this study was to determine the effect of dividend policy and company size on company value in manufacturing companies in 2021-2023. This research is included in the quantitative research category. The population of companies that are the focus of this study are Manufacturing Companies listed on the Indonesia Stock Exchange between 2021 and 2023. There are 226 companies included in the population of this study. The total number of samples used was 14 companies with a total of 42 observations, which were selected based on purposive sampling. The data analysis technique is path analysis processed using SPSS 26. The results showed that dividend policy has a negative effect on firm value and firm size has a positive effect on firm value.