Dividends – Ordinary Shares

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Scrip dividend alternative

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.

Read information on our dividend for ADR holders 

Learn about the Scrip dividend scheme

Find out about National Grid’s dividend history
 

What changes have been made to UK dividend taxation?

The amount of tax that a UK resident individual shareholder who has elected to receive new ordinary shares pursuant to the Scheme is liable for will depend on the total amount of dividend income that individual receives in the tax year. Such individuals who receive dividend income of £500 or less in the tax year will be taxed at a nil rate on such dividend income (including the 'cash equivalent of the new ordinary shares' issued pursuant to the Scheme). For the purposes of calculating dividend income, UK resident individuals should include all income received on dividends from any company in the tax year including any 'cash equivalent of the new ordinary shares' received pursuant to dividend schemes, including but not limited to the Scheme. The £500 limit is referred to as an individual's Dividend Allowance.

If you have any doubts about how this change impacts your tax position, please refer to the government's guidance or speak to a professional tax advisor.
 

Dividends directly into your bank/building society account

To ensure your dividend reaches you on the payment date, have your dividends paid directly into your bank or building society account. 

If you have not already set-up a dividend mandate and would like to take advantage of this secure and convenient way of receiving your dividends, please visit the Equiniti website.
 

Lost Dividend Cheque(s)

If you require a replacement dividend cheque, please contact our Registrars, Equiniti. Please note there may be a charge for the re-issue of a dividend cheque