This study is conducted to observe and evaluate the extent of impact corporate governance has towards dividend payout. This is done through observing 82 public limited companies listed in the Indonesian Stock Exchange (IDX) within the manufacturing industry within the years of 2016-2018. As Indonesia is still a developing economy with a potential to be greater economy in the future, investors comes flocking with an expectation of a high return on investment. This study seeks to see how corporations protect their shareholders through existing corporate governance mechanisms that are enforced by the companies studied. The variables observed are: institutional ownership, managerial ownership, ownership concentration, board independence, and board size. Through using SPSS, OLS multiple regression analysis is used to assess the data to determine to what extent does the corporate governance mechanisms have a positive effect on dividend payout. The findings of the study determined that all variables of corporate governance mechanism is not significant to dividend payout except for board size that affects the dividend payout positively.