National Grid (NGG) announces 2025/26 interim dividend and scrip reference prices

Rhea-AI Filing Summary

National Grid plc has set the scrip dividend reference prices for its 2025/26 interim dividend and confirmed the payment timetable. Ordinary shareholders can take shares instead of cash at a scrip reference price of 1,130.40 pence per share, based on the average closing mid-market price over the five dealing days starting on the ex-dividend date. ADR holders have a scrip ADR reference price of US$74.2334, reflecting five underlying ordinary shares per ADR and the average US dollar exchange rate.

The 2025/26 interim dividend has been declared at 16.35 pence per ordinary share and $1.0657 per ADR. A $0.01 per ADR interim dividend fee applies to cash distributions to ADR holders but not to ADRs received through the scrip option. Key dates include the ex-dividend dates on 20–21 November 2025, scrip election deadlines on 8 and 11 December 2025, and the dividend payment date on 13 January 2026.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date: 27 November 2025

Commission File Number: 001-14958

NATIONAL GRID plc

(Translation of registrant’s name into English)

England and Wales

(Jurisdiction of Incorporation) 

1-3 Strand, London, WC2N 5EH, United Kingdom

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

☒  Form 20-F      ☐  Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.  ☐  Yes    ☒  No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a

EXHIBIT INDEX

Exhibit No.	Description
99.1	Exhibit 99.1 Announcement sent to the London Stock Exchange on 27 November 2025 — Scrip Dividend for 2025/26 Interim Dividend

Exhibit 99.1

27 November 2025

National Grid plc ('National Grid' or the 'Company')

Scrip Dividend for 2025/26 Interim Dividend

National Grid today announces the scrip dividend reference price for the 2025/26 interim dividend. A timetable is provided below.

For ordinary shareholders, the scrip dividend reference price for the 2025/26 interim dividend is 1,130.40 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 interim dividend is US$74.2334. This is calculated by multiplying the scrip dividend reference price above by five (as there are five ordinary shares underlying each ADR) and by the average US$ 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 interim dividend timetable:

6 November 2025	2025/26 half-year results and interim dividend amount declared - 16.35 pence per ordinary share; $1.0657 per ADR*
20 November 2025	Ex-dividend date - ordinary shares
21 November 2025	Ex-dividend date - ADRs
21 November 2025	Record date
27 November 2025	Scrip reference price announced
8 December 2025 (by 5pm EST)	Scrip election date for 2025/26 interim dividend - ADRs
11 December 2025 (by 5pm GMT)	Scrip election date for 2025/26 interim dividend - ordinary shares
13 January 2026	2025/26 interim dividend paid to qualifying shareholders

*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 2025/26 interim dividend. This fee does not apply to ADRs received through the scrip dividend.

Julian Baddeley

Group Company Secretary

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NATIONAL GRID plc
	By:	Beth Melges
		Beth Melges Head of Plc Governance

Date: 27 November 2025

FAQ

What interim dividend has National Grid (NGG) declared for 2025/26?

National Grid has declared a 2025/26 interim dividend of 16.35 pence per ordinary share and $1.0657 per ADR.

What is the scrip dividend reference price for National Grid (NGG) ordinary shares?

The scrip dividend reference price for the 2025/26 interim dividend is 1,130.40 pence per ordinary share, calculated from the average closing mid-market price over five dealing days starting on the ex-dividend date.

What is the scrip ADR reference price for National Grid (NGG) ADR holders?

For ADR holders, the scrip ADR reference price for the 2025/26 interim dividend is US$74.2334, based on five ordinary shares per ADR and the average US dollar rate for the same period.

When will National Grid (NGG) pay the 2025/26 interim dividend?

The 2025/26 interim dividend is scheduled to be paid to qualifying shareholders on 13 January 2026.

What are the key ex-dividend and record dates for National Grid (NGG) 2025/26 interim dividend?

The ex-dividend date for ordinary shares is 20 November 2025, the ex-dividend date for ADRs is 21 November 2025, and the record date is also 21 November 2025.

Is there a fee for National Grid (NGG) ADR holders on the 2025/26 interim dividend?

Cash distributions to ADR holders for the 2025/26 interim dividend include a $0.01 per ADR interim dividend fee. This fee does not apply to ADRs received through the scrip dividend.

When are the scrip election deadlines for National Grid (NGG) 2025/26 interim dividend?

The scrip election deadline is 8 December 2025 (by 5pm EST) for ADR holders and 11 December 2025 (by 5pm GMT) for ordinary shareholders.