National Grid PLC has announced the scrip dividend reference price for the 2023/24 final dividend. For ordinary shareholders, the scrip dividend reference price is 869.20 pence, 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 is US$55.4376, calculated by multiplying the scrip dividend reference price by five and by the average US$ rate for the equivalent dates.
The company has provided a timetable for the 2023/24 final dividend, including key dates such as the record date, scrip election dates, and the date for the final dividend payment to qualifying shareholders. The current terms and conditions of the scrip dividend scheme are available on the Company's website and from Equiniti.
The 2023/24 final dividend amount declared is 39.12 pence per ordinary share and $2.4939 per ADR. It is important to note that a $0.02 per ADR final dividend fee will be applied to cash distributions made to ADR holders in relation to the 2023/24 final dividend, but this fee does not apply to ADRs received through the scrip dividend.