The ownership structure is the foundation of corporate governance. Dividend declaration is the return of the investments made by the shareholders. Besides earning profit, Corporates have a big responsibility towards the Society in which they operate and function. While the dividend declaration is the prerogative of the owners and management of the corporation, expenses on corporate social responsibility has become the Government’s directive under the statute. This papers studies the effect of ownership structure on the dividend declaration and corporate social responsibility expenditure. The statistical data interpretation of the selected population of data - Consumer goods industry companies of the NIFTY fifty stock exchange,reveals that there is not much significant co-relation between the pattern of ownership structure & dividend declaration and so is the case with the pattern of ownership structure and corporate social responsibility expenditure.