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

HIGHLIGHTS


  1. Strong performance
  2. Earnings per share up 14.1%
  3. 8% increase recommended in full year dividend; policy reaffirmed to 2012
  4. .....

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DIVIDEND

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.

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The above mentioned announcement is an abridged version of the full announcement which can be found HERE

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