Business Context and Reporting Period
National Grid plc, a foreign private issuer incorporated in England and Wales, filed Form 6-K on November 27, 2025. The filing serves as a report of an announcement sent to the London Stock Exchange regarding the 2025/26 interim dividend scrip dividend reference price.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on dividend mechanics.
- Interim Dividend Amount: 16.35 pence per ordinary share; $1.0657 per ADR (gross of a $0.01 fee for cash distributions).
- Scrip Dividend Reference Price (Ordinary Shares): 1,130.40 pence.
- Scrip ADR Reference Price: US$74.2334.
Material Changes
The filing does not contain comparative financial data or discuss material changes in business operations versus prior periods. It solely announces the calculation of the scrip reference price based on the average closing mid-market price for the five dealing days commencing with the ex-dividend date.
Guidance, Outlook, and Risks
There is no management commentary, forward-looking guidance, or discussion of risks and contingencies in this specific filing. The document outlines the timetable for the 2025/26 interim dividend, including:
- Ex-Dividend Dates: November 20, 2025 (Ordinary Shares) and November 21, 2025 (ADRs).
- Record Date: November 21, 2025.
- Scrip Election Deadlines: December 8, 2025 (ADRs) and December 11, 2025 (Ordinary Shares).
- Payment Date: January 13, 2026.
Investor Verification Checklist
- Verify the scrip dividend reference price of 1,130.40 pence against market data for the five-day period starting November 20, 2025.
- Confirm the $0.01 interim dividend fee applies only to cash distributions for ADR holders, not to shares received via the scrip scheme.
- Check the specific scrip election deadlines (December 8 for ADRs, December 11 for ordinary shares) to ensure timely participation.
- Review the full 2025/26 half-year results announcement from November 6, 2025, for broader financial performance context not included in this filing.