National Grid Offers Scrip Dividend Alternative

TL;DR

NG is letting shareholders take stock instead of cash for dividends to save cash.

AI Summary

National Grid plc announced on July 18, 2024, its intention to offer new ordinary shares through a scrip dividend alternative for its interim dividend for the year ending March 31, 2025. Shareholders can elect to receive new ordinary shares instead of cash, with the offer expected to commence on August 1, 2024.

Why It Matters

This allows National Grid to retain cash for its operations and investments while offering shareholders a way to increase their stake in the company.

Risk Assessment

Risk Level: low — The filing is a routine announcement regarding dividend options and does not indicate any significant financial distress or operational changes.

Key Players & Entities

• National Grid plc (company) — Filer of the 6-K
• July 18, 2024 (date) — Date of the filing
• March 31, 2025 (date) — Fiscal year end for which the dividend is declared
• August 1, 2024 (date) — Expected commencement date of the scrip dividend offer

FAQ

Key Financial Figures

• $55 — hares) are to be issued at a price of US$55.4376, representing 1,030,530 ordinary s

Filing Documents

• a8246w.htm (6-K) — 27KB
• 0001654954-24-009077.txt ( ) — 28KB

From the Filing

GRID PLC SCRIP DIVIDEND a8246w       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: 18 July 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 18 July 2024   — National Grid plc Scrip Dividend     Exhibit 99.1     18 July 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 74,024,449 ordinary shares to be admitted to trading, in relation to the operation of the Scrip Dividend Scheme for the 2023/24 final dividend, payable on 19 July 2024.  Dealings are expected to commence on 19 July 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 Scheme, 72,993,919 ordinary shares are to be issued at a price of 869.20 pence per share.  In accordance with the terms of the scrip dividend for US holders of American Depositary Receipts ('ADRs'), 206,106 ADRs (each representing five ordinary shares) are to be issued at a price of US$55.4376, representing 1,030,530 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 .      Julian Baddeley Group Company Secretary             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

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View this 6-K filing on SEC EDGAR