National Grid plc
NGGTFUtilities · 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
Summary
As of July 2026, National Grid plc (NGGTF) yields 3.96% ($0.65 per share annually), with a blended fair-value estimate of $19.12 — +16% upside, so it screens as undervalued. Dividend safety grade: C (50/100). 1 years of dividend growth.
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
- 0.60
- Market Cap
- $81.9B
- P/E Ratio
- 19.1
- 5-Yr Total Return
- 25%
- 52-Week Range
- $13.45 – $19.33
- Dividend Safety
- C · 50/100
- Ever Cut?
- Yes (2022)
Frequently Asked Questions
NGGTF Price — Last 12 Months
Daily close
Price Return
1 Year
+12%
3 Years
+35%
5 Years
+25%
52-Week Range
$13.45 – $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 $19.12 per share, versus a market price of $16.46. That implies 16% of upside — a margin of safety of about 14%.
Fair Value
$19.12
Current Price
$16.46
Upside
+16%
Margin of Safety
14%
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 8.6% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.3% discount rate (CAPM), 8.6% stage-1 growth, 2.5% terminal growth, $0.86 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 29, 2025 | — | $0.4160 | regular |
| Nov 21, 2024 | — | $0.2000 | regular |
| Jun 6, 2024 | — | $0.5000 | regular |
| Nov 24, 2023 | — | $0.2420 | regular |
| Jun 1, 2023 | — | $0.4680 | regular |
| Nov 25, 2022 | — | $0.2150 | regular |
| Jun 1, 2022 | — | $0.4250 | regular |
| Dec 2, 2021 | — | $0.2280 | regular |
| Jun 3, 2021 | — | $0.4560 | regular |
| Nov 27, 2020 | — | $0.2270 | regular |
| Jul 2, 2020 | — | $0.3990 | regular |
| Nov 29, 2019 | — | $0.2140 | regular |
| May 30, 2019 | — | $0.3950 | regular |
| May 31, 2018 | — | $0.4040 | regular |
Income Calculator
At $0.65 / yr per share
