The purpose of the current research is to investigate the relationship between the company's sustainable performance and the dividend policy, considering the moderating role of corporate governance and institutional ownership of companies listed on the Tehran Stock Exchange. The current research is an applied research in terms of its purpose. It is a descriptive-causal research in terms of execution method, and also in terms of data collection method, it is post-event type. Regression models will be used to test research hypotheses. In addition, Eviuse software was used to analyze the data. In the current research, the data of 1680 companies admitted to the Tehran Stock Exchange between 1391 and 1400 were analyzed. The results of the statistical test of the research show that the sustainability performance of the company improves the profit sharing policy. Also, corporate governance strengthens the positive relationship between corporate sustainability performance and dividend policy. In addition, institutional ownership weakens the positive relationship between corporate sustainability performance and dividend policy. corporate governance is a tool to create a balance between shareholders and management and it causes the reduction of representation problems, so companies with better corporate governance have less representation problems. Institutional owners mainly tend towards short-term returns and pay less attention to the sustainability activities of companies.