Confirmation of Dividend Growth Policy
On May 20th, 2010, National Grid reiterated its target of growing dividends by 8% a year at least until 2012.
RNS Number : 2391M
National Grid PLC
20 May 2010
20 May 2010 National Grid plc
Results for the year ended 31 March 2010
- Strong performance
- Earnings per share up 14.1%
- 8% increase recommended in full year dividend; policy reaffirmed to 2012
We intend to maintain our policy of 8% per annum growth until 31 March 2012 after adjusting the dividend to take account of the bonus element of the rights issue.
Beyond 2012, we intend to pursue a policy that targets real growth in dividends reflecting the growth prospects of the business.
In line with this policy, the Board has recommended a final dividend of 24.84p per ordinary share ($1.7737 per American Depository share (ADS)), bringing the full-year dividend to 38.49p per ordinary share ($2.9217 per ADS). The final dividend is to be paid on 18 August 2010 to shareholders on the register as at 4 June 2010.
The above mentioned announcement is an abridged version of the full announcement which can be found HERE
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