The dividend pay-out is and always has been one of the main factors influencing investment decisions. Dividends are a measure that show a company’s wellbeing, strength and care for their shareholders. The influence of dividend pay-out on underlining company’s stock price, has been a highly researched topic. This bachelor thesis will, however, try to explain a relation less commonly researched. That is the factors influencing dividend pay-out amount or “dividend yield” on dividend companies traded on Zagreb Stock Exchange. In this paper STATA software is used to create a model with independent and dependant variables and the same shows how much the independent variables explain the movement of the dependant one. The factors of influence, or independent variables, relevant to the dividend pay-out, were selected from the following theories: dividend and company life cycle theory, theory of free-cash-flow, theory of capital structure, theory of profitability and theory of liquidity. The bachelor thesis research result showed that the theoretical determinants of dividend yield are not applicable to the Croatian capital market, as the independent variables failed to explain the movement of dividend yield. The assumption of the bachelor thesis was not confirmed.