National Grid Share Discussion Threads

[trulyscrumptious] 28/3/2013 08:46

Good news for the long term.

[skinny] 28/3/2013 07:22

The Board of National Grid has agreed a new dividend policy to apply from 1st April 2013. The new policy will aim to grow the ordinary dividend at least in line with the rate of RPI inflation each year for the foreseeable future.

In deciding on the new dividend policy, the Board of National Grid considered a number of important factors to stress test the sustainability of the targeted growth rate and the support for strong credit ratings. These included regulatory outcomes in the UK and the US, expectations of delivery under incentive based regimes and sensitivities related to general economic conditions, government policy and other fiscal measures.

Trading update

2012/13 is finishing well, with earnings forecast to be modestly ahead of National Grid's previous expectations. In comparison to previous guidance, a strong UK Transmission business performance and lower net finance costs, now expected to be in line with last year despite increased net debt, should be broadly offset by additional expenses related to February's US storm restoration work and continued system implementation costs. Earnings are expected to further benefit from a lower effective tax rate, in part as a result of a change in profit mix.

National Grid's full year results will be published on 16 May 2013.

[skinny] 22/3/2013 11:10

But I'm sure this may.

HSBC Overweight 755.75 743.50 780.00 850.00 Upgrades

[skinny] 22/3/2013 10:07

New high @754 and probably higher today.

[lord gnome] 22/3/2013 10:04

I think so dgo. The market is coming to appreciate the benefits of a benign eight year deal with the regulator. This is now better than any gilt or bond!

[dgo] 22/3/2013 10:03

You have to ask what is driving this, we had a similar rise last Aug then a pull
back, lets hope this is a step change and a move into a higher trading range.

[skinny] 20/3/2013 08:18

Making new highs again this morning. (752.50p)

[neddo] 19/3/2013 17:29

thanks, newbank

[newbank] 18/3/2013 22:26

m100,

Yes, it is an increase . Just for clarity the Term Divi Yield is described below;

A DIVIDEND is a payment many companies make to shareholders out of their excess earnings. It's usually expressed as a per-share amount. When you compare companies' dividends, however, you talk about the "dividend yield," or simply the "yield." That's the dividend amount divided by the stock price. It tells you what percentage of your purchase price the company will return to you in dividends.

Anyway, the figure of 26.41p is the expected final dividend for 2012/13 based on National Grid's previous statement (which if the price of the shares remain the same, amount to a 'Yield' of 5.48% :- £7.44 / 0.4081p per share approx) :)

[m100] 18/3/2013 11:44

Newbank : "approx 26.41p (based on the continued 4% divi yield announced for 2013"

It's a 4% dividend *increase* not yield

[skinny] 18/3/2013 10:41

JP Morgan Cazenove Neutral 740.25 734.00 640.00 720.00 Upgrades

Bank of America Merrill Lynch Buy 740.25 734.00 - 735.00 Retains

[newbank] 15/3/2013 19:28

neddo,

approx 26.41p (based on the continued 4% divi yield announced for 2013)

[skinny] 15/3/2013 15:57

All of the utilities are down by a similar %age.

[lord gnome] 15/3/2013 15:54

Is there something in today's announcement that I have missed? I didn't see it as bad news and yet the market has hit these with the ugly stick.

[skinny] 15/3/2013 12:07

At an open session meeting conducted on 14 March 2013, the New York Public Service Commission (the "Commission") approved rate case settlements for National Grid's Niagara Mohawk electric and gas utility businesses. A written order is expected to be issued by the Commission shortly.

The new rate plans, as approved, reflect the Joint Proposal settlement filed with the Commission in December. They include a three year rate period, a 9.3% allowed return on equity, a 48% equity portion in the assumed capital structure and increased operating cost allowances compared to the current rate plans. The new rate plans provide for a cumulative delivery rate revenue increase of $123 million for electric operations and $9 million for gas operations by the third year of the rate period. The plans include a three year capital expenditure programme of approximately $1.6 billion. They also provide for various trackers for items including pension, property tax and commodity bad debt costs. The new rates are expected to become effective on 1 April 2013.

Ken Daly, National Grid President for New York said

"I am pleased that the rate impacts of the plan will result in customers seeing a reduction in their delivery bills in the first year of the proposal. The rate plans allow the Company to continue to invest in infrastructure upgrades and new electric and gas assets to cost effectively operate and maintain a safe and reliable electric and gas distribution system in upstate New York. The agreement provides adequate revenue to support National Grid's operations to achieve the public interest benefits identified by the Commission and other stakeholders."

[neddo] 14/3/2013 16:06

what is the august divi likely to be? any guesses.

[skinny] 13/3/2013 09:40

I've just sold some of my long term holding @745p.

There may be more to come short term, but its time to take some profits.

[haughtonhoney] 12/3/2013 13:15

A good percentage of it's profit from abroad in a £-devaluing environment. A strong dividend policy over the next 7 years or so. A core infrastructure supplier that we can't live without.

What's not to like?

One to tuck away for years and years imo.

[mo7800] 12/3/2013 11:21

Theres no stopping the share price here it keeps going up and up. Smart investment by my dad.

[pierre oreilly] 12/3/2013 10:12

40 x £200pp = £8k down the pan.

This isn't a short.

[skinny] 12/3/2013 09:36

New high again this morning @744p

[haughtonhoney] 12/3/2013 09:22

What a share.

The ultimate defensive.

[skinny] 08/3/2013 08:48

New high this morning @738.50p

[esmerelda] 07/3/2013 23:43

Ah, unlike this one you were (not) going to suggest?