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National Grid PLC (NYSE:NGG)
Shares Outstanding
753 Mil (As of Mar. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. National Grid PLC's shares outstanding for the quarter that ended in Mar. 2014 was 753 Mil.

National Grid PLC's quarterly shares outstanding increased from Sep. 2013 (746 Mil) to Mar. 2014 (753 Mil). It means National Grid PLC issued new shares from Sep. 2013 to Mar. 2014 .

National Grid PLC's annual shares outstanding increased from Mar. 2013 (748 Mil) to Mar. 2014 (750 Mil). It means National Grid PLC issued new shares from Mar. 2013 to Mar. 2014 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

National Grid PLC Annual Data

Mar05Mar06Mar07Mar08Mar09Mar10Mar11Mar12Mar13Mar14
Shares Outstanding 544570547525501575690736748750

National Grid PLC Semi-Annual Data

Sep09Mar10Sep10Mar11Sep11Mar12Sep12Mar13Sep13Mar14
Shares Outstanding 573578663717730741745752746753
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