Business
Scrip Dividend for 2025/26 Final Dividend
National Grid has announced the scrip dividend reference price for its 2025/26 final dividend, setting it at 1,197.70 pence per ordinary share, calculated from the average closing mid-market price over five dealing days post ex-dividend. For American Depositary Receipt (ADR) holders, the scrip ADR reference price is US$80.5453, derived from the ordinary share price and the average US dollar exchange rate. The final dividend amount declared was 32.14 pence per ordinary share, or $2.1738 per ADR, with a $0.02 per ADR fee applicable to cash distributions but not scrip dividends. Disclaimer*
About this update from National Grid Plc
4 June 2026 National Grid plc ('National Grid' or the 'Company') Scrip Dividend for 2025/26 Final Dividend National Grid today announces the scrip dividend reference price for the 2025/26 final dividend. A timetable is provided below. For ordinary shareholders, the scrip dividend reference price for the 2025/26 final dividend is 1,197.70 pence. This is calculated as the average closing mid-market price of an ordinary share for the five dealing days commencing with, and including, the ordinary share ex-dividend date. For American Depositary Receipt ('ADR') holders, the scrip ADR reference price for the 2025/26 final dividend is US$80.5453. This is calculated by multiplying the scrip dividend reference price above by five (as there are five ordinary shares underlying each ADR) and by the average US$ rate for the equivalent dates. The terms and conditions of the Scrip Dividend Scheme are available on the Investors section of the Company's website and from Equiniti (0800 169 7775). 2025/26 Final Dividend timetable: 14 May 2026 2025/26 full-year results and final dividend amount declared - 32.14 pence per ordinary share; $2.1738 per ADR* 28 May 2026 Ex-dividend date - ordinary shares 29 May 2026 Ex-dividend date - ADRs 29 May 2026 Record date 4 June 2026 Scrip reference price announced 15 June 2026 (5:00 pm EDT) Scrip election date for 2025/26 final dividend - ADRs 18 June 2026 (5.00 pm BST) Scrip election date for 2025/26 final dividend - ordinary shares 23 July 2026 2025/26 final dividend paid to qualifying shareholders *The figure shown is gross of a $0.02 per ADR final dividend fee which will be applied to cash distributions made to ADR holders in relation to the 2025/26 final dividend. This fee does not apply to ADRs received through the scrip dividend. Julian Baddeley Group Company Secretary