This study investigated the relationship between asymmetric dividend behavior and managers' opportunism with respect to the role of financial leverage in companies listed on the Tehran Stock Exchange. This study is an applied research objective and a descriptive research method, and is a post-event study based on past data. Data collected from 190 companies listed on the Tehran Stock Exchange during the period 2014 to 2023 were used in regression models. Hypothesis testing was analyzed based on appropriate statistical techniques using Stata software. The results at the expected error level (five percent) showed that there is a significant relationship between asymmetric dividend behavior and managers' opportunism. Financial leverage has a significant effect on the relationship between asymmetric dividend behavior and managers' opportunism. The present study contributes significantly to the development of the literature on dividend stickiness, which has received less attention. This study introduced the measure of dividend stickiness as a factor influencing managers' propensity to be opportunistic. The findings shed light on the information content of the propensity to manage earnings. By shaping management's propensity to manipulate earnings from the study of dividend behavior, this study complements previous research on the information content of earnings from another perspective.