The Lemon Fool

Dividend increase of 5.55% recommended for 2023/24

The Board has recommended an increase in the final dividend to 39.12p per ordinary share ($2.4939 per American Depository Share), which will be paid on 19 July 2024 to shareholders on the register of members as at 7 June 2024. If approved, this will bring the full-year dividend to 58.52p per ordinary share, an increase of 5.55% over the 55.44p per ordinary share in respect of the financial year ended 31 March 2023. This is in line with the increase in average UK CPIH inflation for the year ended 31 March 2024 as set out in our dividend policy.

Going forward, and following the rebasing of the 2023/24 dividend per share (DPS) following the Rights Issue, the Board will aim to grow annual DPS in line with UK CPIH, thus maintaining the DPS in real terms. The Board will review this policy regularly, taking into account a range of factors including expected business performance and regulatory developments.

Alan24 wrote:With the recent nationalgrid rights issue, I wonder if any new shares issued will be included with forthcoming dividend issue ?

"The New Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Shares, save for the right to receive the recommended FY24 Final Dividend of 39.12 pence per Share which shall only be paid in respect of the Existing Shares."