The purpose of the paper is to examine the factors influencing the dividend payout policy. Our analysis is based on unbalanced panel data with 4 582 observations of companies from 35 countries over 20 years. 1999-2018. The study covers the companies that are listed on European stock exchange and also includes countries that are not in the EU. https://www.alarecre.com/Music-Is-Freedom-Google-Pixel-7-Pro-Skin-p67850/