Business Context and Reporting Period
National Grid plc, a foreign private issuer incorporated in England and Wales, filed Form 6-K on November 28, 2024. The filing serves as a report of an announcement sent to the London Stock Exchange regarding the 2024/25 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 and pricing.
- Interim Dividend Amount: 15.840 pence per ordinary share; $1.0196 per ADR (gross of a $0.01 fee for cash distributions).
- Scrip Dividend Reference Price (Ordinary Shares): 984.16 pence.
- Scrip ADR Reference Price: US$61.9430.
- Calculation Methodology: 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 contain comparative financial data or material changes in operational performance versus prior periods. It solely announces the specific reference prices for the current dividend cycle.
Guidance, Outlook, and Timetable
Management provided a specific timetable for the 2024/25 interim dividend process:
- November 7, 2024: Half-year results and interim dividend declared.
- November 21, 2024: Ordinary shares and ADRs go ex-dividend.
- November 22, 2024: Record date.
- November 28, 2024: Scrip reference price announced.
- December 9, 2024 (by 5pm EST): Scrip election date for ADRs.
- December 12, 2024 (by 5pm GMT): Scrip election date for Ordinary shares.
- January 14, 2025: Dividend paid to qualifying shareholders.
Unusual Items: A $0.01 per ADR interim dividend fee applies to cash distributions but does not apply to ADRs received through the scrip dividend.
Investor Verification Checklist
- Verify the scrip dividend election deadlines (December 9 for ADRs, December 12 for Ordinary shares) to ensure eligibility for share issuance versus cash.
- Confirm the impact of the $0.01 fee on cash distributions for ADR holders versus the fee-free status of scrip ADRs.
- Review the full 2024/25 half-year results announced on November 7, 2024, for broader financial performance context not included in this filing.