10 June 2021
National Grid plc ('National Grid' or 'Company')
Scrip Dividend for 2020/21 Final Dividend
The optional scrip dividend, allowing shareholders to receive new fully paid ordinary shares in the Company, instead of a cash dividend, is available to ordinary shareholders on the register on 4 June 2021, the dividend record date. A timetable is provided below.
For ordinary shareholders, the scrip dividend reference price for the 2020/21 final dividend is 915.86 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 2020/21 final dividend is US$64.7696. This is calculated by multiplying the scrip dividend reference price above by five (as there are five ordinary shares underlying each ADR) and by the average US$ rate for the equivalent dates.
The current terms and conditions of the scrip dividend scheme are available in the Investors section on the Company's website https://www.nationalgrid.com/investors/shareholder-information/dividends/scrip-dividend-scheme and from Equiniti (0800 169 7775).
2020/21 final dividend timetable:
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| 20 May 2021 | 2020/21 full year results and final dividend amount announced – 32.16 pence per ordinary share; US$2.2812 per ADR* |
| 3 June 2021 | Ordinary shares and ADRs go ex-dividend for 2020/21 final dividend |
| 4 June 2021 | Record date for 2020/21 final dividend |
| 10 June 2021 | Scrip reference price announced |
| 21 July 2021 | Scrip election date for 2020/21 final dividend (5pm London time) |
| 18 August 2021 | 2020/21 final dividend paid to qualifying shareholders |
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*The figure shown is gross of a $0.02 per ADR interim dividend fee which will be applied to cash distributions made to ADR holders in relation to the 2020/21 final dividend. This fee does not apply to ADRs received through the scrip dividend.
Megan Barnes
Head of Company Secretariat
