The study looked at how dividend decisions are influenced by ownership structures in Indonesian manufacturing companies listed on the stock exchange. They analyzed 59 companies from 2016-2018, with some following conventional stock practices and others following sharia stock practices. The research found that companies with concentrated ownership, like family or institutional ownership, tend to pay lower dividends. This suggests that in Indonesia, companies with concentrated ownership may pay less in dividends. Additionally, the study noted that sharia stocks are growing quickly in Indonesia, but there is limited research on dividend policies in these companies compared to conventional stocks.