The main purpose of this research is to investigate the moderating role of ownership structure on the relationship between the performance of the board of directors and the payment of dividends in Tehran Stock Exchange member companies. This research is applied in terms of purpose, descriptive-correlation in terms of data collection method, quantitative research in terms of data nature, and retrospective research in terms of time. The research population is all the companies admitted to the Tehran Stock Exchange during the years 1395 to 1402, of which 140 companies were selected as a statistical sample through screening. This research was conducted based on the logic of deductive-inductive reasoning and panel data was used to test the hypotheses. The necessary data were collected using the new Rahvard software and sorted through the Excel software. For data analysis, the twelfth version of Evioz software was used. The results of the research hypotheses test showed that there is a significant and positive relationship between the performance of the board of directors and the payment of dividends. Also, the ownership structure has a significant and positive effect on the relationship between the performance of the board of directors and the payment of dividends.