The purpose of this study was to determine the effect of DER, ROE and company size on the dividend payout ratio before the covid-19 pandemic and during the covid-19 pandemic. This study uses the literature study design method to create a description or analysis based on secondary data. Secondary data was obtained from the official website of the Indonesia Stock Exchange (IDX) and the company's
financial reports. The sample in this study was 324 for 2017-2020 and 243 for 2017-2019.  The analysis used is panel data analysis using statistical statistical tools. Based on the test results, it is known that the DER variable has a significant negative effect on the dividend payout ratio and during the Covid-19 pandemic the negative effect of DER was stronger on the dividend payout ratio. The ROE variable has a significant positive effect on the dividend payout ratio both before and with the Covid-19 pandemic. Firm size control variable has no
effect on the dividend payout ratio