Exhibit 99.1
9 December 2021
National Grid plc ('National Grid' or 'Company')
Scrip Dividend for 2021/22 Interim 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 3 December 2021, the dividend record date. A timetable is provided below.
For ordinary shareholders, the scrip dividend reference price for the 2021/22 interim dividend is 1015.80 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 2021/22 interim dividend is US$67.3374. This is calculated by multiplying the scrip dividend reference price above by five (as there are five ordinary shares underlying each ADR) and by the average US$ 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 https://www.nationalgrid.com/investors/shareholder-information/dividends/scrip-dividend-scheme and from Equiniti (0800 169 7775).
2021/22 interim dividend timetable:
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| 18 November 2021 | 2021/22 half year results and interim dividend amount declared – 17.21 pence per ordinary share; $1.1573 per ADR* |
| 2 December 2021 | ADRs and ordinary shares go ex-dividend |
| 3 December 2021 | Record date for the 2021/22 interim dividend |
| 9 December 2021 | Scrip reference price announced |
| 20 December 2021 (5pm London time) | Scrip Election Date for 2021/22 interim dividend |
| 19 January 2022 | 2021/22 interim dividend paid to qualifying shareholders |
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*The figure shown is gross of a $0.01 per ADR interim dividend fee which will be applied to cash distributions made to ADR holders in relation to the 2021/22 interim dividend. This fee does not apply to ADRs received through the scrip dividend.
Megan Barnes
Head of Company Secretariat
