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NG. National Grid Plc

1,040.00
10.00 (0.97%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
National Grid Plc NG. London Ordinary Share
  Price Change Price Change % Share Price Last Trade
10.00 0.97% 1,040.00 16:35:09
Open Price Low Price High Price Close Price Previous Close
1,034.50 1,028.00 1,043.50 1,040.00 1,030.00
more quote information »
Industry Sector
GAS WATER & UTILITIES

National Grid NG. Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
18/05/2023InterimGBP0.19423/11/202324/11/202311/01/2024
19/05/2022InterimGBP0.178424/11/202225/11/202211/01/2023
18/11/2021FinalGBP0.337601/06/202206/06/202217/08/2022
20/05/2021InterimGBP0.172102/12/202103/12/202119/01/2022
InterimGBP0.312629/05/201931/05/201914/08/2019

Top Dividend Posts

Top Posts
Posted at 18/4/2024 07:05 by skinny
National Grid today issues a pre-close update ahead of announcing results for the year ended 31 March 2024 on 23 May 2024.

We now expect Underlying EPS for 2023/24 to be in line with the prior year, at actual exchange rates and before the reporting change noted below.

In the 2023 Spring budget, the UK Government introduced 'full expensing' tax relief for qualifying capital expenditure to encourage greater levels of investment from businesses. This change became permanent in November 2023. To represent underlying profitability more accurately, and to align with UK peers, we will now report Underlying Earnings and Underlying EPS excluding the impact of deferred tax in our UK Electricity Transmission and Distribution businesses.

This reporting change will be reflected in our 2023/24 Full Year results, which will lead to an expected increase to Underlying EPS of around 8 pence per share.

Further details will be provided in our 2023/24 Full Year results, and a note on the change to our definition of Underlying Earnings and Underlying EPS can be found on the Investors section of our website hereĀ¹.
Posted at 17/4/2024 07:18 by utyinv
CPIH for March was 3.8%. So we have:

Apr ‘23 : 7.8%
May ‘23 :7.9%
Jun ‘23 : 7.3%
Jul ‘23 : 6.4%
Aug ‘23 : 6.3%
Sep ‘23 : 6.3%
Oct ‘23 : 4.7%
Nov ‘23 : 4.2%
Dec ‘23 : 4.2%
Jan ‘24 : 4.2%
Feb ‘24 : 3.8%
Aug ‘23 : 6.3%
Sep ‘23 : 6.3%
Oct ‘23 : 4.7%
Nov ‘23 : 4.2%
Dec ‘23 : 4.2%
Jan ‘24 : 4.2%
Feb ‘24 : 3.8%
Mar ‘24 : 3.8%

So the average CPIH is 5.575%

Divi last year 55.44p X 1.05575 ( ave CPIH) less int divi of 19.4p gives a final dividend of 39.13p if NG stands true to its commitment to increase dividends in line with CPIH, average for the previous 12 months.

final divi expected to be 39.13p
Posted at 20/3/2024 08:04 by pierre oreilly
Marktime, I posted something which may be if interest, 177285 on the great global warming swindle thread.

The only thing I'm not sure about reading the gov and Ng. releases since, are what the 'extra £120 pa' on bills means to pay for the grid expansion to handle windmills. I think it must be cumulative, i.e. An extra 100 quid year 1 (as you rightly say now, and extra 200 year 2, 300 year 3 etc
Posted at 07/3/2024 16:53 by 1carus
PO, I bought in at about 8.40 something back in 2014 based on what you have just said. It was a very reliable return like a gov bond / gilt etc. But not anymore. I'm expecting a drop to below 10.00 before it heads north of 11.00 again. Seems better to look for that than just hang on for the divi. We shall see. I just think it gets a hard time and is worth more than it trades at.
Posted at 07/3/2024 12:21 by pierre oreilly
1c, Not sure how you can see no value here. If it has roughly 11bn unregulated in the us (or maybe regulated in part by us authorities, or at least told what to do by them), and 11bn regulated in the uk - then that seems value to me. Part of the uk regulators job is to ensure ng. makes a decent return on its (uk) assets - money for old rope if you ask me, and pretty much zero or extremely low risk making that cash. (No chasing bad bill payers, no sales teams etc etc - it's different to all other businesses imv). With 'one off' costs (like the splitting of the cegb in the past and likely great extra work 'upgrading' the grid for renewables, the regulator will allow ng. to pass on the extra costs, eventually to consumers, via an uplift in the err uplift). Hence the rapidly rising electricity bills (and beyond the smoke and mirrors, the coming very small cut in rates/kWh will be offset by yet another high rise in the standing charge). Well, someone has to pay for 'grid upgrades' to handle intermittent generation.

Treat ng. like a gilt - safe profits, safe rising divi, but will never be spectacular (although I'm very happy with the performance since privatisation). Not so happy about the electricity bill rises though, which many can now no longer afford.
Posted at 10/2/2024 12:33 by anhar
Shares fluctuate randomly over the short term in most cases so there are no reasons. Blaming "yanks" is entirely misplaced. In any case, short or long, pros never act from emotional reasons like "hate" as you claim, it's about making money. The only hate I see is yours against the US, dunno why, they are the greatest innovators on Earth and the only reason we can even communicate like this is due to their tech.

Shorting is practised by pros both in the US and UK and involves substantial risk, it's not exclusively American. So you should equally dislike Brit shorters. In my view if they wish to do it, so what? It's part of an open market. If you can't live with that, the obvious answer is to refrain from investing. But if you want to invest in NG. or any share you have to accept market action.
Posted at 15/11/2023 11:28 by anhar
A strong set of results for SSE this morning. 1020 here ahead of the 19.4p XD next week is looking more and more likely :)

I've held NG. and SSE for many years in my income port. Although generallly the SSE figures today weren't bad, the large 38% divi cut for 2024 matters to me as purely an income investor. It was flagged well in advance so no surprise about this today but it still stings. Incidentally it makes SSE a much lower yielder than NG..

However I continue to hold both as part of the clutch of utis in my port.
Posted at 11/11/2023 00:51 by utyinv
anhar:

Re: post 8653 - Forward yield should be a little higher as the 23/24 final will likely be ahead of last year's.

I don’t think the increase will be as high ( percentage terms ) as last year because the Final will be based on the average CPIH for each month April ‘23 to March ‘24 less the interim paid in Jan.

I have posted each month through to Sept ( Sept data published in Oct) and to date we have:-
CPIH April 7.8%, May 7.9%, June 7.3%, July 6.4%, Aug 6.3%, Sept 6.3%

So let’s play guess work with CPIH for Oct, Nov, Dec, Jan Feb and Mar.

Hypothetically, if Oct data is 6%, Nov is 5.5%, Dec 5%, Jan 5%, Feb 4.6% and Mar 4.5% then the average CPIH will be 6.05%

If that is the figure ( which we will use determining our Final) then :

Last year Divi 55.44p x 1.0605 = 58.79p less 19.4p ( interim) = 39.39p so if the next six months of CPIH comes out as our exercise above, the final will be 39.39p. If CPIH falls faster we would get less and more if inflation persists.

With NG using this formulae to determine dividends then NG is one of the few Companies where investors can predict the dividend.

You also mentioned debt and dividend cover. This is normal for utilities like NG where income is almost certain. OFGEM have encouraged NG to capitalise future projects using debt rather than hiking customer bills higher. They (OFGEM) argue that NG can borrow cheaper than a risky Company and the business is secure. They then ask Grid to recoup project costs from customers over a 40 year period.

The only income Ofgem have no control over is income from the US ( which is regulated from within the US but usually the US is more business friendly / realistic) and of course unregulated businesses, ie ventures etc.

So unless NG change their divi policy or something seriously interferes with Company Strategy (politics), then NG is quite predictable.

Hope the above helps
Posted at 09/11/2023 10:29 by anhar
As an income investor, good to see the divi up an attractive 8.7% to 19.4p. Taking this and last year's final of 37.6p totals a rolling 12m 57.0p. On the share price of 975p this makes a historical yield of 5.8%. Forward yield should be a little higher as the 23/24 final will likely be ahead of last year's.

Downsides, in common with utility shares generally, are the low dividend cover and the huge debt and consequent gearing, which are nearly always present so nothing new there. These two negative features can threaten divis in time if not contained and utilities are not immune to divi cutting.

However I'll continue holding in my income port, as I have for a very long time now. Share prices don't interest me much, it's all about the divis in my strategy and NG. has a fine record on that.
Posted at 20/10/2023 13:21 by bountyhunter
Hi Uty

Just checked AV. and while I agree with you re the takeover potential looking on div max the 16 yr div growth is wobbly and long term capital growth poor so I will start a second list for potential takeover targets. Adm is a similar share imho.

BAE looks very good for consistent dividend growth, although already the price has doubled over the last 2 years, have added that one.
PSN has an inconsistent long term dividend record but I agree it has good recovery potential and I already hold a few.
RIO looks like a good recovery play and has a strong dividend growth history ...until this year ...when it has been cut as well as no special of course so doesn't quite fit the bill. Maybe I need a 3rd list for recovery plays!

The reason why I am looking at this is that I'm fed up with seeing more risky shares especially AIM shares being decimated by the UK market and am looking to consolidate into safer dividend payers of which I already hold a number, but intend to increase.

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