LONDON - National Grid (LON:NG) PLC has set the scrip dividend reference prices for its 2024/25 interim dividend for both ordinary shareholders and American Depositary Receipt (ADR) holders. The reference price for ordinary shares is 984.16 pence, while for ADR holders, it is set at $61.9430.
The reference prices are based on the average closing mid-market price for the five dealing days starting from the ex-dividend date. The interim dividend declared on November 7, 2024, is 15.840 pence per ordinary share and $1.0196 per ADR, before a $0.01 per ADR fee applied to cash distributions. This fee is not charged to ADRs received through the scrip dividend.
The ex-dividend date for both ordinary shares and ADRs was November 21, 2024, with the record date following on November 22, 2024. The announcement of the reference price was made today, and shareholders have until December 9, 2024 (5pm EST) for ADRs and December 12, 2024 (5pm GMT) for ordinary shares to elect to receive the scrip dividend. The interim dividend is scheduled to be paid on January 14, 2025, to qualifying shareholders.
Scrip dividend schemes allow shareholders to receive their dividends in the form of additional shares instead of cash, which can be beneficial for those looking to reinvest their earnings and grow their stake in the company.
The terms and conditions of National Grid's scrip dividend scheme are available on the company's website and through its Registrar, Equiniti. This move by National Grid provides shareholders with an alternative to increase their investment in the company without the immediate cash payout.
This information is based on a press release statement provided by National Grid.
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