Our share buy-back programme started on 20 November 2006. As part of that programme National Grid is returning $1.9bn of cash flows relating to stranded assets in our Electricity Distribution business. Under our US rate plans, these cash flows are scheduled to end in 2011 and do not form part of our core on-going business. We therefore exclude them from our dividend policy and are returning them, as they arise, directly to shareholders via a share buy-back. In April 2007 we extended our share buy-back programme to return a further £1.8bn of proceeds from the sale of our Wireless business.
We will regularly inform you here on the progress of the share buy-back programme.
|
Volume (m) |
VWAP (p) |
Value (£m) |
| 2006/07 total |
22.4 |
753.65 |
168.7 |
| 2007/08 total |
200.1 |
753.13 |
1,507.4 |
| 2008/09 cumulative |
11.5 |
711.85 |
81.5 |
| Week ended |
|
|
|
| 04-April-08
| 2.1
| 717.00
| 14.8 |
| 11-April-08
| 1.7
| 725.23
| 12.5 |
| 18-April-08
| 2.2
| 720.27
| 16.1 |
| 25-April-08
| 3.1
| 701.94
| 21.5 |
| 02-May-08
| 2.4
| 702.45
| 16.5 |