Business Context and Reporting Period
This Form 6-K filing by National Grid plc, dated June 13, 2024, serves as a report of a foreign private issuer. The document specifically announces the scrip dividend reference price for the 2023/24 final dividend and provides the associated payment timetable.
Key Financial Metrics
The filing does not contain comprehensive financial statements, revenue, profit, cash flow, or debt metrics. It focuses exclusively on dividend distribution details:
- Final Dividend Amount: 39.12 pence per ordinary share; $2.4939 per ADR (gross of a $0.02 per ADR fee for cash distributions).
- Scrip Dividend Reference Price (Ordinary Shares): 869.20 pence.
- Scrip ADR Reference Price: US$55.4376.
- Calculation Method: Based on the average closing mid-market price for the five dealing days commencing with the ex-dividend date.
Material Changes
The filing does not report material changes to the company's financial position, operations, or strategy compared to prior periods. It is a procedural announcement regarding the mechanics of the 2023/24 final dividend payment.
Guidance, Outlook, and Risks
The document contains no management commentary, future guidance, or discussion of risks and contingencies. It outlines the following key dates for the dividend process:
- Ex-Dividend Date: June 6, 2024.
- Record Date: June 7, 2024.
- Scrip Election Deadline (ADRs): June 18, 2024 (by 5pm EST).
- Scrip Election Deadline (Ordinary Shares): June 24, 2024 (by 5pm BST).
- Payment Date: July 19, 2024.
Investor Verification Checklist
- Verify the scrip dividend reference price of 869.20 pence against market data for the five-day period starting June 6, 2024.
- Confirm the specific deadline for scrip elections based on share type (ADR vs. Ordinary Share) to ensure eligibility.
- Note the $0.02 per ADR fee applicable only to cash distributions, not to shares received via the scrip dividend.
- Review the full 2023/24 annual results (declared May 23, 2024) for broader financial context not included in this filing.