Share Name Share Symbol Market Type Share ISIN Share Description
National Grid LSE:NG. London Ordinary Share GB00B08SNH34 ORD 11 17/43P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +11.70p +1.18% 1,002.00p 1,002.00p 1,002.50p 1,004.50p 986.70p 1,001.00p 11,713,702.00 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 15,115.0 3,032.0 69.0 14.5 37,657.63

National Grid Share Discussion Threads

Showing 4951 to 4975 of 4975 messages
Chat Pages: 199  198  197  196  195  194  193  192  191  190  189  188  Older
DateSubjectAuthorDiscuss
23/4/2017
13:59
At the risk of flogging this to death, is the whole point of the exercise to issue enough of a special dividend to exactly cover the purchase of any shares that went "missing" as a result of the consolidation? So, by exercising share purchases using the special dividend monies, you end up with with the same number of shares as before. The benefit being that, overall, there are now less shares in circulation. What about the "innocents" in all this, i.e. shorters, they will have sold stock, with no entitlement to the special dividend, and now need to buy back same at a (hopefully) increased price? Is an indirect benefit of this exercise one that allows a squeeze to be put on the shorters?
septimus quaid
23/4/2017
12:02
Many thanks Pierre, that confirms what I had suspected but I got so bogged down in the detail and timing I failed to the see the overview.
daveofdevon
23/4/2017
10:43
Ignoring all costs and any price movements not associated with the consolidation, you'll be able to buy back 1 share for each sold. The price won't change (much) due to the consolidation. In practical terms, selling 1000 will give you cash to buy back 960/970/980 depending on the commissions you'll pay. If you're subject to cgt, then less.If the price just before xd is way different from the price used last week to set the consolidation terms, then there may be an effect on the price going xd, but I'm finding it difficult to work out what that effect would be, if any.
pierre oreilly
23/4/2017
09:30
This has been covered in previous posts Scroll back got the detail .
atlantic57
23/4/2017
09:27
I would welcome the help of those with sharper minds than me if you would help me with the maths of my plan. The plan is to sell my NG holding before the XD date and avoid the special dividend and the subsequent consolidation. The cash will be moved to my ISA and all used to buy NG shares in time for the next normal dividend. For simplicity lets say I have 1200 shares and I sell for £10 (ignore dealing costs). I move £12000 to my ISA and use the whole lot to buy NG back (ignore dealing and stamp). The key question is this :- What will the share price be when I buy back and thus how many shares will I be able to buy ? Ignore day to day price fluctuations and focus on the the two key events, firstly the effect of the XD and secondly the effect of the consolidation. I look forward to what I hope will be reasoned answers to the problem and any other thoughts on the wisdom of my plan.
daveofdevon
23/4/2017
08:30
Glad mine are all in an ISA. Keeps the tax issue simple.
gateside
23/4/2017
08:05
There is absolutely nothing in the public announcements to suggest that this is anything other than a special dividend which is liable to pay income tax if it is not in a tax sheltered vehicle. However if you want certainty the company should be able to at the least give you a steer.
atlantic57
22/4/2017
23:50
As mentioned some posters may be contacting the Company Sec. Alison Kay...Good luck guys, I know Alison well and all she will do is refer you to HMRC! Hope I am wrong but good luck anyway!
utyinv
22/4/2017
12:13
#4555, UtyINV, Well spotted, thank you. The perils of c&p! The article mentioned 2 stocks and I posted the wrong one. I've amended the post now.
jeffian
22/4/2017
10:56
Good to see the dividend policy reiterated there given that the yield is already at 4.3%: "The Board believes that the expected growth and performance of the current portfolio of assets will continue to support the Group’s dividend policy, which is to grow the dividend per ordinary share at least in line with the rate of annual RPI inflation in the UK each year for the foreseeable future."
bountyhunter
22/4/2017
10:35
Page 2 on of the Notice of General Meeting is fairly explanatory.
skinny
22/4/2017
10:03
yes often with a special dividend there is a 'B share' alternative to provide the option of avoiding dividend tax implications however unless I've missed something that is not the case on this occasion
bountyhunter
22/4/2017
08:23
Standard life did something similar in 2015 I believe but they way they structured the deal shareholders had the right to decide whether it was treated as a capital transaction or a dividend. Everything I have read to date implies that in the case of Ng this is a Dividend. The company secretary will be able to give a definitive answer as Hmrc must agree any proposals to treat it as capital.
atlantic57
22/4/2017
08:16
A special dividend would normally be classed in exactly the same way as an ordinary dividend.However this is slightly more unusual as the reduction in shares owned is something that is worth looking into. The Company secretary is the best person to speak to.
atlantic57
22/4/2017
00:41
Hi Misanthr, My assertion is if there's a tax liability (ie not in sipp or isa) just sell out and take the capital gain/loss rather than spending time potentially arguing with HMRC - you can spend too much time letting the tax tail wag the investment dog! On the other hand if you investment is in 6 figures the potential gains from arguing your case could be beneficial, if not awkward. I'd like to hear how you get on with clarifying your opinion, always interested to hear different peoples experiences. Just to clarify I do have a holding in NG. which I have had for 3-4 years and is held in a sipp. AIMO DYOR :)
jbarker5555
21/4/2017
23:16
Dear Jbarker, You're right in so far as "trading accordingly" goes - already done that as I don't have a dog. Let's face it though, someone has to give it a shot, and I'm currently liaising with the. company Secretary. I maintain that this is not a dividend in the normal sense - "Special" indeed, we are to be paid for losing a chunk of the company and the proportion of the total capital value concerned is to be returnedto shareholders.If this is not a return of capital I don't know what is. Worth chasing I reckon. I'd be interested to hear your assertion backed up more though.
misanthropeterence
21/4/2017
21:41
I don't think I'd waste my time chancing that it could be "return of capital". I'd assume it is "income" and trade accordingly. Otherwise you could spend half a day talking to your accountant and HMRC when you could spend the same time researching new shares, or walking the dog! :) AIMO DYOR
jbarker5555
21/4/2017
21:27
I'm back on the tax liability and whether the "special dividend" should be treated as "income" or "return of capital". These are treated diffently ie income is taxed as normal and return of capital MAY be liable to capital gains tax if the annual CGT allowance is exceeded. BIG DIFFERENCE !! Check out the following link; hxxps://help.stockbrokers.barclays.co.uk/help/event-processing/return-of-capital
misanthropeterence
21/4/2017
20:00
jeffian, R U on the wrong BB? This is a NG BB. :~)
utyinv
21/4/2017
14:39
brexit should take care of that ;-)))))
bountyhunter
21/4/2017
13:30
There was an article in Today's Times giving Centrica a panning based on negative sentiment in anticipation of more government meddling. The UK government is skint and although it has reduced deficit it has failed to reduce debt. All this, despite squeezing PAY-ers half to death with direct and indirect taxes. The associated risk for NG, and other big energy related stocks, is being tapped for cash via some windfall arrangement. No doubt sold to a (unsympathetic and uncomprehending) public on the basis it will stop hospital closures or some such.
septimus quaid
21/4/2017
12:40
This from the Motley Fool re: dividend stocks - "One-of-a-kind National Grid Sell: 1,001.50 | Buy: 1,002.00 positive 11.70 (1.18%) Graph Prices delayed by at least 15 minutes. Just as G4S’s reputation will ensure that the company can continue to grow, National Grid has an existing presence around the UK that virtually guarantees the firm will be able to produce dividends for investors for decades to come. The group owns the majority of the UK’s electricity infrastructure, which would be impossible for any competitor to replicate. With this being the case, National Grid has an enormous competitive advantage and earnings stability available to virtually no other company. As there is little risk to its earnings, the firm’s dividend is one of the most secure on the market. Shares in the company currently support a dividend yield of 4.3%, and the payout is covered 1.5 times by earnings per share."
jeffian
21/4/2017
12:37
Surprised that xd date (22 May) is after record date (19 May). it is normally the other way round {Thursday xd, Friday record date}. I suspect the problem is EGM day is Friday and they cannot declare a special dividend before it has been voted on.
linhur
21/4/2017
12:18
and stamp on the buy
pierre oreilly
21/4/2017
12:17
Just sell the lot just before xd, and buy back 11/12ths just after. Same result as getting the special divi, except it shifts income to cap gains (or losses!). The cost is the dealing and spread costs.
pierre oreilly
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