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National Grid Report

Practical discussions about equity High-Yield Portfolios (HYP) for income
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idpickering
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National Grid Report

#178913

Postby idpickering » November 8th, 2018, 7:15 am


Highlights

· Maintained strong reliability and safety across all networks



· Decided to exercise Cadent 39% options; sale completion in June 2019 providing £2bn cash proceeds



· Reached major milestone in the US with all distribution companies under refreshed rates



· Approved £850m investment to proceed with Viking interconnector



· Launched UK cost efficiency and restructuring programme



Financial performance

· Underlying operating profit down 6% to £1.3bn, primarily from expected return of Gas Transmission allowances and US tax reform, partially offset by favourable legal settlements of £94m



· Underlying EPS of 19.7p, up 1.2p, reflecting a lower tax rate and reduced share count



· Statutory EPS (continuing) of 12.7p after exceptional charges: UK cost efficiency and restructuring programme £127m; Massachusetts Gas workforce contingency plan £97m



· Interim dividend 16.08p/share, up 3.8% in line with policy



· Capital investment £2.1bn, up 7%


And later;

Interim dividend of 16.08p, increased in line with policy

The Board has approved an interim dividend of 16.08p per ordinary share ($1.0616 per American Depositary Share). This represents 35% of the total dividend per share of 45.93p in respect of the last financial year to 31 March 2018 and is in line with the Group's dividend policy. The interim dividend is expected to be paid on 9 January 2019 to shareholders on the register as at 23 November 2018.



The Group's dividend policy is to aim to grow the ordinary dividend per share at least in line with the rate of UK RPI inflation each year for the foreseeable future. The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p.



The scrip dividend alternative will again be offered in respect of the 2018/19 interim dividend. As previously announced, we do not expect to buy back the scrip shares issued during 2018/19 or 2019/20, unless there is sufficient balance sheet capacity.


https://www.investegate.co.uk/national- ... 00127052G/

Arborbridge
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Re: National Grid Report

#178920

Postby Arborbridge » November 8th, 2018, 8:13 am

"The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p."

If my records are correct, that makes 2.6% compound for five years, with RPI being 2.5%.

Just about doing enough!


Arb.

idpickering
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Re: National Grid Report

#178921

Postby idpickering » November 8th, 2018, 8:16 am

Arborbridge wrote:"The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p."

If my records are correct, that makes 2.6% compound for five years, with RPI being 2.5%.

Just about doing enough!


Arb.


That'll do for me Arb. Steady and boring is ok by me.

Ian.

kempiejon
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Re: National Grid Report

#178927

Postby kempiejon » November 8th, 2018, 8:51 am

Arborbridge wrote:"The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p."

If my records are correct, that makes 2.6% compound for five years, with RPI being 2.5%.

Just about doing enough!


Arb.

Just, and as Ian says good enough and not breaching their statement
The Group's dividend policy is to aim to grow the ordinary dividend per share at least in line with the rate of UK RPI inflation each year for the foreseeable future.

Julian
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Re: National Grid Report

#178942

Postby Julian » November 8th, 2018, 9:57 am

Arborbridge wrote:"The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p."

If my records are correct, that makes 2.6% compound for five years, with RPI being 2.5%.

Just about doing enough!

In my HYP world where so many other shares seem to be in a protracted period of frozen divis this does me just fine. I'm perfectly happy with this.

- Julian

Arborbridge
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Re: National Grid Report

#178967

Postby Arborbridge » November 8th, 2018, 11:44 am

Julian wrote:In my HYP world where so many other shares seem to be in a protracted period of frozen divis this does me just fine. I'm perfectly happy with this.

- Julian


So am I. "Just doing enough" = OK.

Arb.

johnstevens77
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Re: National Grid Report

#179047

Postby johnstevens77 » November 8th, 2018, 5:59 pm

idpickering wrote:
Arborbridge wrote:"The 2018/19 interim dividend of 16.08p represents a 0.59p (3.8%) increase over the interim dividend for the year ended 31 March 2018 of 15.49p."

If my records are correct, that makes 2.6% compound for five years, with RPI being 2.5%.

Just about doing enough!


Arb.


That'll do for me Arb. Steady and boring is ok by me.

Ian.


Me too Ian, and thanks for all your hard work keeping us updated.

john

idpickering
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Re: National Grid Report

#179060

Postby idpickering » November 8th, 2018, 7:10 pm

johnstevens77 wrote:
Me too Ian, and thanks for all your hard work keeping us updated.

john


Thank you very much. You’re welcome. I’m an early bird anyway, and some of the announcements are about my own holdings, but I like to spread the word.

All the best,

Ian.


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