National Grid plc (ADR) stock (US6361801011): Scrip reference price set for 2025/ 26 final dividend

National Grid has fixed the scrip reference prices for its 2025/26 final dividend, giving ADR investors clarity on the share alternative ahead of the June 2026 election deadline.

National Grid plc (ADR) is in focus on 06/05/2026 after the UK-based power and gas network operator set the scrip reference prices and confirmed the timetable for its 2025/26 final dividend, a key cash-flow event for income-focused investors in both London and New York.

According to a company announcement dated 06/04/2026, National Grid set the ordinary share scrip reference price at 1,197.70 pence per share for the 2025/26 final dividend, corresponding to a scrip ADR reference price of USD 80.5453 per ADR, based on five underlying ordinary shares per ADR and an average exchange rate over a five-day pricing period, as reported in a Form 6-K filing referenced by StockTitan on 06/04/2026.StockTitan (SEC Form 6-K) as of 06/04/2026

In the same 06/04/2026 communication, National Grid confirmed that the previously declared 2025/26 final dividend amounts remain 32.14 pence per ordinary share and USD 2.1738 per ADR, with a scheduled payment date of 07/23/2026 for qualifying shareholders, following earlier ex-dividend and record dates set out in the dividend timetable.TipRanks company announcement summary as of 06/04/2026

The stock traded on the New York Stock Exchange under the ticker NGG in US dollars, reflecting its primary UK operations through an American Depositary Receipt structure, while the company’s main listing remains on the London Stock Exchange, anchoring it firmly in the United Kingdom’s utility sector.

For German-based investors, National Grid’s ADRs are also available via trading venues such as Tradegate, where pricing is typically quoted in euros and tracks the underlying US and UK listings, although liquidity and spreads can differ from the home exchanges on any given trading day.

As of: 06/05/2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: NGG
• Sector/industry: Regulated electric and gas utilities
• Headquarters/country: London, United Kingdom
• Core markets: United Kingdom and northeastern United States
• Key revenue drivers: Regulated transmission and distribution of electricity and gas, with returns set by UK and US regulatory frameworks
• Home exchange/listing venue: London Stock Exchange (NG) and New York Stock Exchange (NGG) - ADR
• Trading currency: GBP on LSE, USD on NYSE

National Grid plc (ADR): core business model

National Grid operates energy transmission and distribution networks across the United Kingdom and the northeastern United States, earning regulated returns on its asset base, with revenue largely determined by multi-year rate agreements that link allowed income to infrastructure investment, reliability performance, and inflation-linked adjustments.

Valuation metrics and multiples for National Grid plc (ADR)

Because National Grid runs heavily regulated networks with long asset lives, investors often assess its valuation against earnings, cash flows, and dividend sustainability in comparison with other large-cap utilities in the United Kingdom and the broader European market.

On 05/14/2026, when National Grid declared the 2025/26 final dividend of 32.14 pence per ordinary share and USD 2.1738 per ADR, the announcement underlined the company’s stated policy of delivering a progressive dividend stream aligned with growth in earnings and its regulatory asset base, as summarized by Investing.com in its coverage of the dividend declaration dated 05/14/2026.Investing.com company news as of 05/14/2026

Dividend-focused investors frequently compare National Grid’s yield, derived from its ordinary share and ADR payouts such as the 32.14 pence and USD 2.1738 final dividend figures for 2025/26, with those of other UK utilities and infrastructure operators, noting that the company’s regulated earnings profile and scrip option can influence the balance between cash distributions and equity-funded capital expenditure over time.

Within this context, the setting of a scrip reference price at 1,197.70 pence per ordinary share and USD 80.5453 per ADR for the 2025/26 final dividend on 06/04/2026 provides a concrete anchor for assessing the effective price at which shareholders choosing stock rather than cash will be issued new equity, a factor that can be incorporated into yield and valuation models when evaluating dilution and total-return prospects in the United Kingdom utility space.

Conclusion

The key near-term driver for National Grid plc (ADR) is the 2025/26 final dividend, with the company confirming a cash payout of 32.14 pence per ordinary share and USD 2.1738 per ADR and setting scrip reference prices at 1,197.70 pence and USD 80.5453, respectively, in its 06/04/2026 communication.

These figures, announced in the United Kingdom but directly affecting ADR holders in the United States, frame the trade-off between cash income and additional shares ahead of the June 2026 scrip election deadlines, and they feed into how investors value National Grid’s regulated asset base and income stream relative to other listed utilities.

Against that backdrop, the stock’s attractiveness for income-oriented portfolios will be shaped by how the confirmed dividend and scrip pricing interact with the company’s ongoing capital investment plans, leverage metrics, and the broader regulatory environment in the United Kingdom and the United States over the coming years.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.