Dividend payments and calculators

Next dividend

The next scheduled dividend will be the 2013/14 interim dividend payable on 22 January 2014 to shareholders on the register on 6 December 2013.


The scrip dividend reference price for the 2013/14  interim dividend will be announced 11 December 2013.   


For ordinary shareholders, the scrip dividend reference price is calculated as the average closing mid-market price of an ordinary share for the five dealing days commencing with, and including, the ex-dividend date.  For ADS holders this is calculated by multiplying the reference share price for ordinary shares by five (as there are five ordinary shares underlying each ADS) and by the average US$ rate for the equivalent dealing days. 


Amendments to American Depositary Receipt (ADR) Deposit Agreement

In order to cover costs associated with the management of the ADR programme, the Company has amended the deposit agreement under which the American Depositary Shares (ADS)s representing its ordinary shares are issued to allow a fee of up to $0.05 per ADS to be charged for any cash distribution made to ADS holders, including cash dividends, in line with common market practice.  Commencing with the final dividend payment payable on 21 August 2013, ADS holders who receive a cash dividend will be charged a fee, which will be deducted by the Depositary from interim and final cash dividends prior to distribution of the cash dividend.  The initial fee charged with the final dividend payable on 21 August 2013 will be $0.02 per ADS.  The payment of the final dividend is subject to approval by shareholders at the AGM taking place on 29 July 2013.


Last dividend

The last dividend was the 2012/13 final dividend of 26.36 pence per ordinary share (US$2.0088 per ADS) which was paid on 21 August 2013 to shareholders on the register on 7 June 2013.

The scrip dividend reference price for the 2012/13 final dividend was 742.40 pence (US$57.6065).   

Previous dividends

The attached spreadsheet includes details of dividends paid by National Grid, National Grid Group and Lattice Group.

Ordinary Dividends Paid

ADS Dividends Paid


Scrip dividend

Following shareholder approval at the 2009 AGM, an optional scrip dividend, allowing shareholders to receive new fully paid ordinary shares in the Company, with no stamp duty or commission to pay, is available to shareholders on the register on the record date for future dividends.


For more information about our scrip dividend scheme please contact Capita Registrars.


Scrip Dividend Terms and Conditions


ADS holders and stamp duty reserve tax (SDRT)

Previously, the ADS scrip reference price included a deduction of 1.5% SDRT but following a tax tribunal decision in 2012, HM Revenue & Customs no longer seek to impose 1.5% SDRT on issues of UK shares and securities to non-EU clearance services and depositary receipt systems.  Any ADS holders who wish to seek a refund of SDRT that they have paid previously should speak to their tax advisor.



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Ordinary shares dividend calculator - National Grid plc

ADS dividend calculator -   National Grid plc

Ordinary shares dividend calculator - Lattice Group plc