Abstarct: This study examines the relationship among information asymmetry,dividend policy and ownership structure for companies listed on the tehran stock exchange from 2009 to 2019. 5 models use to measure information asymmetry between managers and shareholders; three models has signficant and inverse relationship with dividend policy . an independent model of above 5 models is use to confirm the exsitence of asymmetry between managers and shareholders. also find that company with more private ownership distributes less dividend among shareholders.