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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| National Grid Plc | NG. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 11.00 | 1.14% | 974.20 | 16:35:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 963.40 | 961.20 | 976.60 | 974.20 | 963.20 |
| Industry Sector |
|---|
| GAS WATER & UTILITIES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 18/05/2023 | Interim | GBP | 0.194 | 23/11/2023 | 24/11/2023 | 11/01/2024 |
| 10/11/2022 | Interim | GBP | 0.376 | 01/06/2023 | 02/06/2023 | 09/08/2023 |
| 19/05/2022 | Interim | GBP | 0.1784 | 24/11/2022 | 25/11/2022 | 11/01/2023 |
| 18/11/2021 | Final | GBP | 0.3376 | 01/06/2022 | 06/06/2022 | 17/08/2022 |
| 20/05/2021 | Interim | GBP | 0.1721 | 02/12/2021 | 03/12/2021 | 19/01/2022 |
| Top Posts |
|---|
Posted at 09/7/2024 10:13 by pierre oreilly Not sure what you are not sure about Davius.NZ is extremely favourable to ng. (hence why it's climbing and will continue to climb until it's rerated to take account of NZ). Great for us, terrible for everyone else, driving bills to unaffordable levels. Basically, anything intermittent (like many of the clean green technologies) are terrible methods of generation for a power matching grid. And all solutions we read about to negate the intermittency are completely non solutions (like batteries on a grid scale). The current ng. costs are for handling all that intermittent generation - we'll get paid on those assets whether sensible or not. Set aside some of your ng. profits for your upcoming and rapidly rising electricity bills over the coming years, they'll be unaffordable for many. |
Posted at 06/6/2024 10:09 by laurence llewelyn binliner 1Carus, the dividend will be re-based going forward, but expect 4.5/5% as it will be reduced to account for the dilution coming on the 12th..I added a few more this morning but will have to wait for the rest as/when dividends come in, must not grumble though, they are for free after all.. :o).. We will continue our progressive dividend policy, maintaining the total level of dividend following the RI. Our aim is to grow Dividend Per Share in line with UK CPIH inflation in keeping with the current dividend policy. We will aim to increase the FY25 DPS by UK CPIH following the rebase of the FY24 DPS of 58.52 pence, after taking account of the new shares issued following the Rights Issue.. |
Posted at 04/6/2024 10:55 by pierre oreilly Why is this so difficult?xd means without the divi. So if you buy xd, you buy and don't get the divi. If you sell xd then you sell without the divi and the seller gets the divi. Whether you are on the register or not at that time makes no difference to that. All it means is that the divis are sent to those who are on the register when the register is read. So the divi is sometimes sent to those who aren't entitled to it, and your broker will return it and it's then sent to who is entitled to it (if bought/sold after reg date but before xd date). All invisible to holders - i.e. the reg date is a complete red herring to holders - any admin is handled without you knowing. Anyhow, loaded up wife's isa with cash to take up our whole rights. Shame because in my isa I have lots of cash sitting there getting 0 interest. As an aside, last week someone said that those not taking up the rights gets their rights sold and gets the cash from that sale. Well I would really check up if that is the case. In other rights i've had, if the rights weren't taken then the underwriters simply got them at the cheap price and the rights holder got nothing. I've looked through the prospectus and can't find definitively what happens to untakenup rights, so it's not clear to me what happens. Something about 'best efforts from the underwriters' or something unspecific imv. Anyone know for definite (from the documentation, not feelings in bones)? |
Posted at 03/6/2024 11:16 by pierre oreilly Anhar, many here, including me, find grid operations very interesting (probably many don't too, each to their own).But windmills are crucial to ng. Without the massive expansion of windmills, 95% of the recent grid expansion plans wouldn't be necessary at all, and of course, ng. gets its profit from grid assets, and is completely derisked as to the madness of net Zero (and windmills are part of that). Also, many here have actually worked at ng. and spent a lot of time and energy and expertise making the grid extremely efficient and the best in the world, keeping bills as low as possible for customers. Seeing all that effort go to waste and brushed aside for some political reasons and building a grid of waste and duplication which customers will pay for at a very high level in a few years (ng. investors are paying a small part of that atm to be reimbursed by customers in the future. Instead of believing gov (and our own directors') lies about the future cost and efficiency of our electricity, readers can have offered a more realistic view. NG. shareholders will next year start to be rewarded very profitable for NZ spending (since many projects have already started which will soon contribute) and that will ramp up over several years. But, and it's a big but, it comes at a high cost to customers who increasingly will have to choose between the old eating and heating and worse. I personally want everyone to know that and question whether this is what the uk really wants. So it's off topicish, but not by much. |
Posted at 30/5/2024 16:51 by pierre oreilly Another rights?Of all the quoted companies in the uk, ng. is the least likely to have another rights in the next 6 years. This due to ng. being unlike all other companies. Everything it does has to have regulator approval. The 6 year funding plan was drawn up and/or approved and certainly ordered by ofgem (i.e. the government). The idea is to give clarity in funding nd spending - and ng. will not be allowed to deviate too much from the plans just presented. The upside of having a regulator is that they will ensure the plans are carried out, and another rights isn't in the plan. Even the bank loans to come will be easy to get. If ng. have problems raising the further billions required from the banks, then the gov would step in and order them lend the cash, at a normal rate. Amost everything about ng. is unique and completely different to all other ftse companies. Best to look at it as a part of the government, not an independent company (all regarding the regulated business). |
Posted at 27/5/2024 15:06 by albajack @utyinv:If 'z' is being calculated from 'x' and 'y', and then 'z' and 'y' are being combined in a reverse calculation, the result is 'x'. It does not matter how experiened an investor might be, or whether the calculation is performed by an administrator, the result is exactly the same as the original number. There is no value to be discovered from the process: 10 / 2 = 5 10 / 5 = 2 I'll repeat, but rephrase: calculating value on an *unknown* shareprice at some point in the future is a wholly different set of questions and statements - and likely answers. I am retired, have also been investing for a good many years, and am aware of different situations regarding rights issues, having been in them myself (*Segro). One situation, which I have not seen mentioned on here, is how to account for lost income when selling a holding and trying to guage a re-entry price. If the share price goes XD and falls below the perceived valuation price, does this trigger a purchase? This is less of an issue with NG's forthcoming final dividend as the investor already has the dividend in the bag if the share is sold before the XD date. However, if shares are not repurchased before the subsequent dividend, i.e. the next interim, how is that to be incorporated into a valuation point calculation? Once the opportunity to take that dividend has passed, the investor suffers a permenant loss of income - and this is also something which should matter to an income investor. Leave it too long before buying back in and the loss of further dividends can lower the valuation price required to recover accumulated cuts to income to an unrealistic level. If the investor wants income from this security then there will come a time when the shares will have to be bought even if they are above the preceived valuation price. This is one of my own experiences. It is a similar problem to trying to time markets. Something else that I have not seen mentioned on here is how raising debt instead of equity can lead to a cut to the dividend. Interest payments have priority and have the potential to reduce cash available to pay dividends. NG's dividend cover is already low - last number which I have from ShareCast is 1.2. NG's credit ratings are also towards the low end of investment grade. Take on more debt and the risk is of being downgraded to junk territory. If this happens then coupons on subsequent debt will be higher - and this will matter a good deal once existing investment-grade bonds with lower coupons need to be refinanced. And there is the ongoing problem of how to refinance the debt just raised when that matures - another round of replacement debt? There does come a time when raising finance as equity rather than as debt is sensible - and safer. A current example of how debt can truly destroy shareholder value is Thames Water. Instead of putting new equity into the company, shareholders preferred to have new finance raised as debt. Now they are very likely to be wiped out. ...and...on an entirely tongue-in-cheek note... New infrastructure is needed not just because of the Green Transition. New infrastructure is needed whether the electricity is green or grey. The area around west London, alone, is struggling to build new housing because of contraints on the electricity supply infrastructure. These contstraints are due to the number of data storage warehouses in the area (greater Dublin has a similar problem, just FYI). These centres require air conditioning to keep the environment cool enough for the servers that they house. As the number of servers increase there comes a time when a new air-conditioned building has to be built to house them. These servers store internet-generated data. Some of this data is social media, e.g. Meta, X, etc. Some is from sites such as - ADVFN. As more posts are made on ADVFN, more server space is required to store them. Eventually, a new server required, leading to...a ripple up the chain. Therefore, every post being made on ADVFN which is criticising the NG. rights issue is doing a little bit more to speed up the need to upgrade the very infrastructure upon which their published criticisms are reliant... :-) Do try to read it in good humour, please - it's a Bank Holiday...! *Segro: being my most previous situation of a capital raise prior to NG.. Not enough cash on hand to fully subscribe to my entitlement. Took up what I could. Subsequently topped up when sufficient funds had accumulated. My situation now is different, having just sold something before the RI announcment with the intention of reinvesting elsewhere. Instead, these funds will go towards NG. and the other will have to wait. Two identical requiremens, two different situations, both managed accordingly. |
Posted at 27/5/2024 10:24 by utyinv Albajack, post 2157 :- The advantage for those of us who have not sold is that there is no need to try to time a way back in. And by taking up rights in full we suffer no cut in total dividend received.What you might not be getting is something that Bounty has eloquently put it, we all have different situations. Two scenarios that need to be taken into account especially when referring to options that people like Bounty are trying to evaluate. 1) many on this Board have had investments for the past 30 years ( NG floated in 1995 ). Over the years, using the old PEP system which was replaced by the ISA, investors have bed and breakfast’d shares to make them tax efficient. So much so, that many have shares that would require far more capital to be raised in the ISA than the annual allowance permits. 2) many investors on this bb have been proactive investors in having a wide range of stock and funds within the tax shelter, using stock from UK, USA (W-8BEN req) etc. So that is why there are so many permutations that the likes of say Bounty are evaluating. Bounty is the administrator of this bb and as such it is not wrong to assume that Bounty is knowledgable about investing. Bounty and Pierre have been investing for many years One simple calculation I did for a friend was that to fork out the Capital to effectively break even on dividends would require a lot of faith in the money raised by NG being used wisely and quickly enough to realise a benefit. My friend did not take up the option and as a result the loss in income from dividends as apposed to the outlay in new capital would take 20 years to break even and he is already in his 70’s. So for him that might be the right thing to do. None of us have crystal balls. Yes he could do a part ‘take-up’ I have faith in the outcome, due to many reasons, but others might not have time on their side. |
Posted at 27/5/2024 00:21 by albajack @bountyhunter, what you said in #9151 was:"Another way of attributing a value would be to multiply £11.26 (Wed close) by the rebased dividend per share divided by the current dividend per share, I've not tried that one but it may come out close to the figure we have posted, leaving the future yield roughly the same due to a lower share price?" And the answer to that question was that you are calculating a future lower share price (x) by dividing the future dividend (y) by the current percentage yield (z). So if you then divide the future dividend (y) by the resultant future lower share price (x), the answer you get is (z), i.e. the current percentage yield. Not roughly the same, but exactly the same. x = y / z => z = y / x You say you haven't tried it; give it a go. If you are wanting to calculate the prevailing yield at some point in the future based upon a prevailing share price and expected dividend, and then compare to previous data in order to ascertain value and/or re-entry points, that is something different to your question. The advantage for those of us who have not sold is that there is no need to try to time a way back in. And by taking up rights in full we suffer no cut in total dividend received. A 645p per fully-paid rights and an adjusted future dividend of 45.3p is a 7% yield on the purchase. No transaction charges, no stamp duty. These two will also lower any re-entry price calculations, especially the latter. Oh, and I am an income investor, both now an in the future...! |
Posted at 26/5/2024 18:37 by bountyhunter 58.52p total divi for 23/24checking for the rebased value "...a total DPS of 58.52p/share for 2023/24 which will then be rebased given the increased number of shares following the Rights Issue." So the dividend per share will decline by 24/31 due to the dilution. For the same dividend return as at the Wed close for purchasers of the shares ex rights the share price would need to be 1126p*24/31 = 871p, not far off the share price now. For me personally if I could buy back at 1025p * 24/31 = 793.5p then my dividend payment would be unscathed! :) ..as I sold at a 1025p average on Thursday. I'm not expecting the price to drop back that far but who knows. If I did that before the 6 June of course I would get the unrebased final dividend (although just for 23/24) on more shares, so 793.5p is too low as I haven't allowed for potentially buying back a few more shares (on which the unrebased final dividend would be paid) at the lower price. I give up, I didn't do advanced maths! |
Posted at 26/5/2024 14:29 by berny3 Vis you are buying shares at £6.45 a significant discount to market price, that more than equates to the loss of one dividend.BH - exactly very difficult to take in in such a short space of time, hence my thoughts the price is currently too low. And yes the new annual dividend will be the same as this year but adjusted for the increase in shares issued through the rights. i.e. there will be no change in total cash available for dividend just an increase in the number of shares it is dividend amongst and hence individual dividend per share will reduce by the adjusted number of shares. |
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