EN
Dividend policy has been a very important, but controversial issue in corporate finance since the pioneering works of Miller and Modigliani. The question, why do some firms pay dividends and the other do not, is still valid. The main goal of this paper is to examine whether the dividend policy in Poland has been influenced by factors similar to those in developed countries. In the study, panel data analysis has been applied to investigate the determinants of dividend policies in Poland.