Ownership structure is considered critical in determining the efficacy of the market by showing the extent of risk diversification of shareholders and possible agency problems encountered in the course of managing the firm. Existing studies have shown that the nature of firm’s ownership structure has a great impact on firm’s performance and dividend policy in particular. However in Nigeria, little has been done in investigating the relationships between various forms of ownerships and dividend policy. This study is therefore aimed at assessing the impact of corporate ownership structure on dividend policy of quoted conglomerates in Nigeria. Correlational research design was used in a sample of five (5) conglomerates using panel data for a period of ten years (2003-2012). The study employed Ordinary Least Squares (OLS) technique of data analysis. The study, after controlling for firm size and leverage, found that ownership structure has significant positive impact on the dividend policy of quoted conglomerates in Nigeria at 99% confidence level. Specifically, the study found that managerial ownership has significant negative impact on the dividend policy of quoted conglomerates in Nigeria. The study also found that institutional ownership has significant positive impact on the dividend policy of quoted conglomerates in Nigeria during the period of the study. Furthermore, the study found that ownership concentration has a significant positive impact on the dividend policy of quoted conglomerates in Nigeria during the period of the study. The study, among others, recommends that government and its relevant agencies should review and increase monitoring on the equity ownership of the managers, due to its significant influence on the dividend policy, which may lead to an increase in the power and control of the managements over the resources of the firm.