The scrip dividend issuance is a routine capital allocation event with minimal dilution (~1.4%). Monitor for any future changes to the scrip dividend policy or shifts in shareholder preference for cash vs. shares, but no immediate trading action is warranted.
Price Chart
Executive Summary
National Grid filed a 6-K confirming the issuance of 50,862,899 ordinary shares under its Scrip Dividend Scheme for the 2025/26 final dividend, payable on 23 July 2026. The scrip dividend allows shareholders to receive shares instead of cash, with 49,766,614 ordinary shares issued at 1,197.70 pence each and 219,257 ADRs issued at US$80.5453 each. This is a routine capital management event with no material impact on the company's financial position or operations.
Key Facts
- National Grid issued 50,862,899 ordinary shares under its Scrip Dividend Scheme for the 2025/26 final dividend.
- 49,766,614 ordinary shares were issued at a price of 1,197.70 pence per share.
- 219,257 ADRs (each representing five ordinary shares) were issued at a price of US$80.5453 per ADR.
- The shares will rank pari passu with existing ordinary shares and dealings commence on 23 July 2026.
Financial Impact
Issuance of approximately 50.9 million new ordinary shares, representing roughly 1.4% dilution based on the ~3.6 billion shares outstanding implied by the £81.4B market cap and 1,197.70p scrip price. No cash outflow as dividend is paid in shares instead of cash.
Risk Factors
- Minimal dilution from new share issuance.
- No material financial or operational impact identified.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001654954-26-006786 |
| Document: 0001654954-26-006786-index-headers.html | 0001654954-26-006786 |
| Document: 0001654954-26-006786-index.html | 0001654954-26-006786 |
| Document: 0001654954-26-006786.txt | 0001654954-26-006786 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 22d ago | 6-K | $76.02 $77.12 | ▲ +1.45% | ▲ +1.02% | $81.77 (+7.56%) |
Sep 30, 2026 27d ago | 6-K | $75.82 $76.11 | ▲ +0.38% | ▼ −1.53% | $81.77 (+7.85%) |
Aug 28, 2026 8w ago | 6-K | $79.35 $78.12 | ▼ −1.55% | ▼ −1.66% | $81.77 (+3.05%) |
Aug 3, 2026 12w ago | 6-K | $79.86 $79.48 | ▼ −0.48% | ▼ −2.50% | $81.77 (+2.39%) |
Jul 31, 2026 12w ago | 6-K | $79.97 $80.88 | ▲ +1.14% | ▼ −2.37% | $81.77 (+2.25%) |
Jul 23, 2026 13w ago | 6-K | $82.37 $80.39 | ▼ −2.40% | ▼ −2.88% | $81.77 (−0.73%) |
Jul 22, 2026 13w ago | 6-K | $83.87 $78.88 | ▼ −5.95% | ▼ −3.55% | $81.77 (−2.50%) |
Jul 1, 2026 16w ago | 6-K | $80.18 $83.11 | ▲ +3.65% | ▲ +3.39% | $81.77 (+1.98%) |
Jun 30, 2026 17w ago | 6-K | $82.87 $82.59 | ▼ −0.34% | ▼ −0.94% | $81.77 (−1.33%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers