The firm said it was aiming to maintain credit metrics consistent with its current group rating, while its regulatory gearing was expected to remain in the low 70% range after completing all three transactions. The company said it was planning to make a total cumulative capital investment of up to £40bn, aiming for an asset growth compounded annual growth rate of 8% to 10%, backed by a strong balance sheet.Īdditionally, it anticipated driving underlying earnings per share compounded annual growth of 6% to 8% based on the 2020-2021 earnings per share baseline of 54.2p per share. Looking ahead, National Grid's financial outlook and guidance for the five-year period to 2026 remained unchanged. National Grid recommended a final dividend of 37.6p per share, bringing the full-year dividend to 55.44p per share, up 8.77% year-on-year. Underlying earnings per share also demonstrated positive growth, rising 7% at actual exchange rates. However, adverse commodity remeasurements partially offset the gains, and as a result, the statutory earnings per share for continuing operations saw an increase of 22% compared to the previous year. National Grid's statutory operating profit for continuing operations rose 12% to £4.9bn, driven by the gain on the sale of NECO and the Millennium investment, and insurance recoveries following the IFA fire. However, those gains were partly offset by the shorter period of NECO ownership of two months. It put the growth down to a full-year contribution from UK electricity distribution, strong operational performance in its US regulated businesses, a higher contribution from National Grid Ventures (NGV), increased property sales, and its community support package. The FTSE 100 company said underlying operating profit for the 12 months ended 31 March was up 15% at £4.58bn. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body.Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services.Obtains access to the information in a personal capacity.Additional details may be found on your utility’s website.I am a private investor* I am not a private investor *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Your program details may differ based on your utility. National Grid reserves the right to cancel your participation in the program if you participate in less than 15% of the rush hour events during a season because you opted out of energy rush hours, or your device was offline or not in a heating mode.Critical rush hour events can occur at any time of day. In the unlikely situation of a critical need on the electric grid, National Grid may need to call a critical rush hour event.There can be multiple rush hour events per day.Energy rush hours can occur at any time of year between 6 a.m.Rush hour events can consist of a pre-cooling period in the summer or pre-heating period in the winter to make your home more comfortable and a period of time when your energy usage is reduced. There can be multiple rush hour events throughout the year.Plus, you’ll receive an additional $25 e-gift card after the second season of participation, if you participate in at least 70% of the rush hour events for that season. National Grid will give you a $25 e-gift card for signing up for Rush Hour Rewards.
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