U.K. Dividend Aristocrats List: 2024 Rankings by Yield

2. National Grid plc (NYSE:NGG)

Dividend Yield as of December 28: 5.81%

National Grid plc (NYSE:NGG) is a multinational electricity and gas utility company that offers services to its residential and professional consumers. The stock has declined by nearly 3% in the past 12 months. The recent developments surrounding the company’s growth plans, coupled with the near-term uncertainty, are likely contributing to the current cautious market sentiment.

That said, in its recent report, National Grid plc (NYSE:NGG) highlighted that over the past six months, the company has maintained strong momentum, marking an unprecedented increase in capital investment. The company successfully completed a £7 billion Rights Issue, which supports its ability to execute its five-year, £60 billion investment plan swiftly. Progress is well underway, with investment reaching a record £4.6 billion in the first half of the year. In the UK, work is advancing on 17 major onshore and offshore transmission projects, with ongoing consultations with communities and stakeholders. The company has also made significant progress in securing the supply chain for these projects. In the US, National Grid has made strides on the $4 billion Upstate Upgrade in New York and has continued to replace gas mains and reinforce networks across its communities.

National Grid plc (NYSE:NGG)’s financial outlook for the five-year period from 2024 to 2028 includes a total capital investment of approximately £60 billion. The group expects its assets to grow at a compound annual growth rate (CAGR) of around 10%, supported by a robust balance sheet. In addition, the company is aiming for an underlying earnings per share (EPS) growth rate of 6-8%, starting from the 2024/25 EPS baseline.

National Grid plc (NYSE:NGG) pays an interim dividend of £0.1584 for a dividend yield of 5.81%, as of December 28.

National Grid plc (NYSE:NGG) was a part of 19 hedge fund portfolios at the end of Q3 2024, up from 16 in the previous quarter, according to Insider Monkey’s database. The stakes held by these hedge funds have a total value of more than $267 million. With over 3.1 million shares, Renaissance Technologies was the company’s leading stakeholder in Q3.