SmarterDividends
NGG

National Grid plc

NGG

Utilities · Utilities - Regulated Electric · Stock · semiannual payer

$81.86

Undervalued · +22% Add to Portfolio

Forward Yield

3.96%

Annual Dividend

$3.24

Payout Ratio

72%

5-Yr Growth

-0.1%

Ex-Date

May 29, 2026

Frequency

Semiannual

Key facts about NGG's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 24, 2026, National Grid plc (NGG) has a forward dividend yield of 3.96%, based on an annual dividend of $3.24 per share and a share price of $81.86.
  • As of Oct 24, 2026, NGG's dividend safety grade from SmarterDividends is C (51 out of 100), which rates the dividend as borderline.
  • NGG last cut its regular dividend in 2025.
  • NGG's most recent ex-dividend date was May 29, 2026, for a dividend of $2.17 per share.
  • As of Oct 24, 2026, NGG pays out 72% of its trailing 12-month earnings as dividends (its payout ratio).
  • NGG's dividend has shrunk at an average rate of 0.1% a year over the past five years.
  • As of Oct 24, 2026, NGG's 3.96% yield is 36% below its five-year average yield of 6.17%.
  • As of Oct 24, 2026, SmarterDividends' blended fair-value estimate for NGG is $100.15 per share, 22% above the $81.86 share price, so NGG screens as undervalued.
  • National Grid plc (NGG) pays its dividend semiannual, 2 times a year.
Cite this page

SmarterDividends, "NGG Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 24, 2026, https://smarterdividends.com/stocks/NGG

Summary

As of Oct 24, 2026, National Grid plc (NGG) yields 3.96% ($3.24 a year per share) and has a dividend safety grade of C (51/100).

Is NGG a good dividend stock?

Mixed

National Grid plc (NGG) pays a semiannual dividend yielding 3.96% ($3.24/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

    Risks

    • Cut its dividend in 2025
    • Dividend has been shrinking, not growing

    Key Data

    Dividend Yield
    3.96%
    Payout Ratio
    72%
    Annual Dividend
    $3.24
    5-Yr Avg Growth
    -0.1%
    Ex-Dividend Date
    May 29, 2026
    Years of Growth
    0
    Frequency
    semiannual
    Beta
    0.58
    Market Cap
    $82.3B
    P/E Ratio
    18.6
    5-Yr Total Return
    24%
    52-Week Range
    $73.37 – $94.64
    Dividend Safety
    C · 51/100
    Ever Cut?
    Yes (2025)

    NGG dividend changes

    National Grid plc (NGG) pays a variable dividend: across the 45 payments on record since 2005, 16 were higher than the one before and 9 lower. The latest change was up 113.1% to $2.17 per share, going ex-dividend on May 29, 2026.

    Ex-dateChangeOld → newMove
    May 29, 2026Higher$1.02 → $2.17+113.1%
    Nov 21, 2025Lower$1.19 → $1.07−10.4%
    Nov 22, 2024Lower$2.35 → $1.02−56.5%
    Nov 22, 2023Higher$1.03 → $1.19+15.4%
    Jun 1, 2023Higher$1.16 → $2.35+102.8%
    Nov 23, 2022Lower$1.13 → $1.03−8.7%
    Dec 2, 2021Higher$1.07 → $1.16+8.4%
    Nov 25, 2020Higher$1.06 → $1.13+6.3%
    Nov 27, 2019Higher$1.02 → $1.07+4.9%
    Nov 21, 2018Higher$1.03 → $1.06+3.2%
    Nov 22, 2017Lower$1.24 → $1.02−17.7%
    Nov 22, 2016Lower$1.28 → $1.03−19.5%
    Every NGG payment →Download every raise and cut (CSV)
    NGG ex-dividend date & scheduleNext ex-date May 29, 2026 · full ex-dividend historyView →NGG dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is NGG a good dividend stock?

    Mixed. National Grid plc (NGG) pays a semiannual dividend yielding 3.96% ($3.24/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

    Is NGG undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NGG's fair value is about $100.15 versus a $81.86 share price — so it looks undervalued (+22% vs. fair value).

    Is NGG's dividend safe?

    NGG has a dividend-safety grade of C (51/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

    What is NGG's fair value?

    Our blended fair-value estimate for NGG is about $100.15 per share, roughly 22% above the current $81.86 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is NGG a buy, hold, or sell?

    We don't issue formal ratings, but on the data NGG screens as "mixed" and undervalued. National Grid plc (NGG) pays a semiannual dividend yielding 3.96% ($3.24/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

    Will NGG cut its dividend?

    NGG earns a dividend-safety grade of C (51/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does NGG pay a dividend?

    Yes. National Grid plc pays a semiannual dividend of about $3.24 per share annually, a forward yield of roughly 3.96%.

    What is NGG's dividend yield?

    As of Oct 24, 2026, NGG's forward dividend yield is 3.96%, based on a $3.24 annual dividend and a $81.86 share price.

    What is NGG's dividend per share?

    As of Oct 24, 2026, NGG pays $3.24 per share per year, distributed on a semiannual basis.

    What is NGG's dividend payout ratio?

    As of Oct 24, 2026, NGG's payout ratio is 72% of trailing 12-month earnings — a moderate level that's generally sustainable.

    How many years has NGG grown its dividend?

    NGG does not currently have a long dividend-growth streak on record.

    When is the next NGG ex-dividend date?

    As of Oct 24, 2026, NGG's next ex-dividend date hasn't been announced. The most recent was May 29, 2026, for $2.17 per share.

    Income Calculator

    At $3.24 / yr per share

    Per payment (semiannual)$162.00
    Annual$324.00
    Monthly avg$27.00

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