National Grid plc
NGGTFUtilities · Utilities - Regulated Electric · Stock · semiannual payer
Forward Yield
3.96%
Annual Dividend
$0.65
Payout Ratio
72%
5-Yr Growth
5.9%
Ex-Date
May 28, 2026
Frequency
Semiannual
Key facts about NGGTF's dividend
Data as of · Source: SmarterDividends data
- As of Oct 22, 2026, National Grid plc (NGGTF) has a forward dividend yield of 3.96%, based on an annual dividend of $0.65 per share and a share price of $16.40.
- As of Oct 22, 2026, NGGTF's dividend safety grade from SmarterDividends is C (50 out of 100), which rates the dividend as borderline.
- NGGTF last cut its regular dividend in 2022.
- NGGTF's most recent ex-dividend date was May 29, 2025, for a dividend of $0.42 per share.
- As of Oct 22, 2026, NGGTF pays out 72% of its trailing 12-month earnings as dividends (its payout ratio).
- NGGTF's dividend has grown at an average rate of 5.9% a year over the past five years.
- As of Oct 22, 2026, NGGTF's 3.96% yield is 18% below its five-year average yield of 4.84%.
- As of Oct 22, 2026, SmarterDividends' blended fair-value estimate for NGGTF is $19.77 per share, 21% above the $16.40 share price, so NGGTF screens as undervalued.
- National Grid plc (NGGTF) pays its dividend semiannual, 2 times a year.
Cite this page
SmarterDividends, "NGGTF Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 22, 2026, https://smarterdividends.com/stocks/NGGTF
Summary
As of Oct 22, 2026, National Grid plc (NGGTF) yields 3.96% ($0.65 a year per share) and has a dividend safety grade of C (50/100).
Is NGGTF a good dividend stock?
MixedNational Grid plc (NGGTF) pays a semiannual dividend yielding 3.96% ($0.65/yr), with 1 year 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
- Strong 5.9% 5-yr dividend growth
Risks
- Cut its dividend in 2022
Key Data
- Dividend Yield
- 3.96%
- Payout Ratio
- 72%
- Annual Dividend
- $0.65
- 5-Yr Avg Growth
- 5.9%
- Ex-Dividend Date
- May 28, 2026
- Years of Growth
- 1
- Frequency
- semiannual
- Beta
- 0.58
- Market Cap
- $82.4B
- P/E Ratio
- 18.6
- 5-Yr Total Return
- 22%
- 52-Week Range
- $14.45 – $19.33
- Dividend Safety
- C · 50/100
- Ever Cut?
- Yes (2022)
NGGTF dividend changes
National Grid plc (NGGTF) pays a variable dividend: across the 24 payments on record since 2013, 10 were higher than the one before and 7 lower. The latest change was down 16.8% to $0.416 per share, going ex-dividend on May 29, 2025.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| May 29, 2025 | Lower | $0.500 → $0.416 | −16.8% |
| Nov 21, 2024 | Lower | $0.242 → $0.200 | −17.4% |
| Jun 6, 2024 | Higher | $0.468 → $0.500 | +6.8% |
| Nov 24, 2023 | Higher | $0.215 → $0.242 | +12.6% |
| Jun 1, 2023 | Higher | $0.425 → $0.468 | +10.1% |
| Nov 25, 2022 | Lower | $0.228 → $0.215 | −5.7% |
| Jun 1, 2022 | Lower | $0.456 → $0.425 | −6.8% |
| Dec 2, 2021 | Higher | $0.227 → $0.228 | +0.4% |
| Jun 3, 2021 | Higher | $0.399 → $0.456 | +14.3% |
| Nov 27, 2020 | Higher | $0.214 → $0.227 | +6.1% |
| Jul 2, 2020 | Higher | $0.395 → $0.399 | +1.0% |
| Nov 29, 2019 | Lower | $0.404 → $0.214 | −47.0% |
Frequently Asked Questions
Is NGGTF a good dividend stock?
Mixed. National Grid plc (NGGTF) pays a semiannual dividend yielding 3.96% ($0.65/yr), with 1 year 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 NGGTF undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NGGTF's fair value is about $19.77 versus a $16.40 share price — so it looks undervalued (+21% vs. fair value).
Is NGGTF's dividend safe?
NGGTF has a dividend-safety grade of C (50/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2022, debt and yield-versus-history.
What is NGGTF's fair value?
Our blended fair-value estimate for NGGTF is about $19.77 per share, roughly 21% above the current $16.40 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is NGGTF a buy, hold, or sell?
We don't issue formal ratings, but on the data NGGTF screens as "mixed" and undervalued. National Grid plc (NGGTF) pays a semiannual dividend yielding 3.96% ($0.65/yr), with 1 year 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 NGGTF cut its dividend?
NGGTF earns a dividend-safety grade of C (50/100), and has cut its dividend before (last in 2022). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does NGGTF pay a dividend?
Yes. National Grid plc pays a semiannual dividend of about $0.65 per share annually, a forward yield of roughly 3.96%.
What is NGGTF's dividend yield?
As of Oct 22, 2026, NGGTF's forward dividend yield is 3.96%, based on a $0.65 annual dividend and a $16.40 share price.
What is NGGTF's dividend per share?
As of Oct 22, 2026, NGGTF pays $0.65 per share per year, distributed on a semiannual basis.
What is NGGTF's dividend payout ratio?
As of Oct 22, 2026, NGGTF's payout ratio is 72% of trailing 12-month earnings — a moderate level that's generally sustainable.
How many years has NGGTF grown its dividend?
As of Oct 22, 2026, NGGTF has increased its dividend for 1 consecutive years.
When is the next NGGTF ex-dividend date?
As of Oct 22, 2026, NGGTF's next ex-dividend date hasn't been announced. The most recent was May 29, 2025, for $0.42 per share.
NGGTF Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+29%
5 Years
+22%
52-Week Range
$14.45 – $19.33
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NGGTF worth?
Undervaluedmedium confidenceOur blended fair-value estimate for National Grid plc is $19.77 per share, versus a market price of $16.40. That implies 21% of upside — a margin of safety of about 17%.
Fair Value
$19.77
Current Price
$16.40
Upside
+21%
Margin of Safety
17%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 40.0% annual free-cash-flow growth. We model 9.3% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 9.3% growth for five years fading to 2.5% over the next five, $0.88 EPS, $0.65 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NGGTF Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full NGGTF dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 29, 2025 | Jul 17, 2025 | $0.4160 | regular |
| Nov 21, 2024 | — | $0.2000 | regular |
| Jun 6, 2024 | Jul 19, 2024 | $0.5000 | regular |
| Nov 24, 2023 | — | $0.2420 | regular |
| Jun 1, 2023 | Aug 9, 2023 | $0.4680 | regular |
| Nov 25, 2022 | — | $0.2150 | regular |
| Jun 1, 2022 | Aug 17, 2022 | $0.4250 | regular |
| Dec 2, 2021 | Jan 19, 2022 | $0.2280 | regular |
| Jun 3, 2021 | Aug 18, 2021 | $0.4560 | regular |
| Nov 27, 2020 | — | $0.2270 | regular |
| Jul 2, 2020 | Aug 19, 2020 | $0.3990 | regular |
| Nov 29, 2019 | — | $0.2140 | regular |
| May 30, 2019 | Aug 14, 2019 | $0.3950 | regular |
| May 31, 2018 | Aug 15, 2018 | $0.4040 | regular |
Income Calculator
At $0.65 / yr per share
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