NATIONAL GRID PLC ANNOUNCES SCRIP DIVIDEND OPTION

TL;DR

**National Grid is offering a scrip dividend, letting shareholders take new shares instead of cash.**

AI Summary

National Grid PLC filed a 6-K on January 10, 2024, announcing a Scrip Dividend, which allows shareholders to receive new shares instead of cash dividends. This filing, under Commission File Number 001-14958, indicates that the company is offering an alternative to traditional cash payouts. For investors, this matters because choosing a scrip dividend means reinvesting in the company, potentially increasing their ownership stake and future dividend income, but also diluting existing shares if not all shareholders opt for cash.

Why It Matters

This filing signals National Grid PLC's intention to offer a scrip dividend, which can impact shareholder returns and the company's cash flow by retaining capital within the business.

Risk Assessment

Risk Level: low — A scrip dividend is a routine corporate action that offers shareholders a choice, not an inherent risk.

Analyst Insight

An investor should evaluate their personal financial situation and tax implications to decide whether to take the cash dividend or opt for the scrip dividend, considering the potential for increased share ownership versus immediate liquidity.

Key Players & Entities

• NATIONAL GRID PLC (company) — the registrant filing the 6-K
• 001-14958 (other) — Commission File Number
• January 10, 2024 (date) — date of the 6-K filing
• London Stock Exchange (company) — where the announcement was also sent

Forward-Looking Statements

• National Grid PLC will see a slight reduction in cash outflow for its upcoming dividend payment due to shareholders opting for the scrip dividend. (NATIONAL GRID PLC) — medium confidence, target: next dividend payment date
• The number of outstanding shares for National Grid PLC will increase slightly as some shareholders choose new shares over cash. (NATIONAL GRID PLC) — medium confidence, target: next dividend payment date

FAQ

Key Financial Figures

• $64 — hares) are to be issued at a price of US$64.1402, representing 374,640 ordinary sha

Filing Documents

• a1551z.htm (6-K) — 23KB
• 0001654954-24-000387.txt ( ) — 24KB

From the Filing

GRID PLC SCRIP DIVIDEND a1551z       UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549     FORM 6-K     REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 10 January 2024   Commission File Number: 001-14958       NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)        1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)       Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a         EXHIBIT INDEX   Exhibit No.   Description   99.1   Exhibit 99.1 Announcement sent to the London Stock Exchange on 10 January 2024— National Grid plc Scrip Dividend     Exhibit 99.1   10 January 2024   National Grid plc ('National Grid' or 'Company')   National Grid plc Scrip Dividend   National Grid confirms that an application has been made to the Financial Conduct Authority for ordinary shares to be admitted to the Official List, and to the London Stock Exchange for 31,477,272 ordinary shares to be admitted to trading, in relation to the operation of the Scrip Dividend Scheme for the 2023/24 interim dividend, payable on 11 January 2024.  Dealings are expected to commence on 11 January 2024 and the shares will rank pari passu with the existing issued ordinary shares of the Company.    In accordance with the terms of the scrip dividend, 31,102,632 ordinary shares are to be issued at a price of 1,015.60 pence per share.  In accordance with the terms of the scrip dividend for US holders of American Depositary Receipts ('ADRs'), 74,928 ADRs (each representing 5 ordinary shares) are to be issued at a price of US$64.1402, representing 374,640 ordinary shares (including fractional entitlements).    The current terms and conditions of the scrip dividend scheme are available in the Investors section on the Company's   website   and from Equiniti on 0800 169 7775 or   help.shareview.co.uk .    Pritti Patel Deputy Company Secretary & General Counsel, Corporate       SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.         NATIONAL GRID plc           By:   /s/Sally Kenward _______________________       Sally Kenward Senior Assistant Company Secretary         Date: 10 January 2024  

View Full Filing

View this 6-K filing on SEC EDGAR