National Grid (CHIX:NGL) Dividend Payout Ratio: 0.30 (As of Mar. 2026) — 63% Below Median


CHIX:NGL National Grid PLC CHIX:NGL
74 GF Score
Price £12.52
GF Value £7.53
Valuation Significantly Overvalued
! 5 Warning Signs
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What is National Grid Dividend Payout Ratio?

National Grid CHIX:NGL -0.36% 74 Dividend Payout Ratio is 0.30 as of Mar. 2026, which is 63% below its 10-year median of 0.81. GuruFocus rates CHIX:NGL with a GF Score™ of 74/100 and a GF Value™ of £7.53 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 374 Utilities - Regulated companies, National Grid ranks worse than 68.72% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. National Grid's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.30.

The historical rank and industry rank for National Grid's Dividend Payout Ratio or its related term are showing as below:

CHIX:NGl' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.67   Med: 0.81   Max: 1.06
Current: 0.67

During the past 13 years, the highest Dividend Payout Ratio of National Grid was 1.06. The lowest was 0.67. And the median was 0.81.

CHIX:NGl's Dividend Payout Ratio is ranked worse than
68.72% of 374 companies
in the Utilities - Regulated industry
Industry Median: 0.54 vs CHIX:NGl: 0.67

As of today (2026-06-28), the Dividend Yield % of National Grid is 3.87%.

During the past 13 years, the highest Trailing Annual Dividend Yield of National Grid was 6.42%. The lowest was 3.50%. And the median was 5.17%.

National Grid's Dividends per Share for the months ended in Mar. 2026 was £0.16.

During the past 12 months, National Grid's average Dividends Per Share Growth Rate was -14.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was -0.10% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 2.70% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 2.10% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of National Grid was 13.60% per year. The lowest was -42.80% per year. And the median was 4.40% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

National Grid (CHIX:NGl) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

National Grid Dividend Payout Ratio Related Terms

National Grid Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for National Grid's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

National Grid Dividend Payout Ratio Chart

National Grid Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.81 0.81 0.68 0.99 0.81

National Grid Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Dividend Payout Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.53 3.52 0.28 2.09 0.30

CHIX:NGL vs NEE, SO, DUK: Dividend Payout Ratio Comparison

For the Utilities - Regulated Electric subindustry, National Grid's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

National Grid Dividend Payout Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, National Grid's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where National Grid's Dividend Payout Ratio falls into.


CHIX:NGL
74GF Score
National Grid PLC CHIX:NGL
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

National Grid Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

National Grid's Dividend Payout Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Mar. 2026 )/ EPS without NRI (A: Mar. 2026 )
=0.472/ 0.582
=0.81

National Grid's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Mar. 2026 )/ EPS without NRI (Q: Mar. 2026 )
=0.164/ 0.555
=0.30

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.30 mean?
National Grid (CHIX:NGL) has a Dividend Payout Ratio of 0.30 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on National Grid and its competitors. This is 63% below median its historical median of 0.81. Over the past decade, National Grid's Dividend Payout Ratio has ranged from 0.67 to 1.06. According to the industry distribution chart, National Grid ranks #257 out of 374 companies in the Utilities - Regulated industry, placing it in the top 68.7%.
Is National Grid's Dividend Payout Ratio too high?
National Grid's current Dividend Payout Ratio of 0.30 is 63% below median its 10-year median of 0.81. Over the past 10 years, this metric has ranged from a low of 0.67 to a high of 1.06. The Utilities - Regulated industry median Dividend Payout Ratio is 0.54. National Grid's value of 0.30 is 44.4% below this industry median. Based on the distribution chart, National Grid ranks #257 out of 374 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, National Grid has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Grid's Dividend Payout Ratio compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, National Grid ranks #257 out of 374 companies for Dividend Payout Ratio. This places National Grid in the lower half of its industry. The industry median Dividend Payout Ratio is 0.54. National Grid's value of 0.30 is 44.4% below this benchmark. Historically, National Grid's own Dividend Payout Ratio has ranged from 0.67 to 1.06 over the past decade. While the company's 10-year median is 0.81 vs. the industry median of 0.54, National Grid has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for an Utilities - Regulated company?
The median Dividend Payout Ratio among Utilities - Regulated companies is 0.54, based on 374 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Grid's current Dividend Payout Ratio of 0.30 is 44.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on National Grid and its competitors. For the Utilities - Regulated industry, the median Dividend Payout Ratio is 0.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Grid's current Dividend Payout Ratio is 0.30, which is 63% below median its own 10-year median of 0.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Grid stock overvalued right now?
Based on GuruFocus' analysis, National Grid (CHIX:NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is £7.53, compared to a current price of £12.52 — trading 66.3% above its estimated fair value. The current Dividend Payout Ratio is 0.30, which is 63% below median its 10-year median of 0.81 and 44.4% below the Utilities - Regulated industry median of 0.54. National Grid's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For National Grid (CHIX:NGL), the current Dividend Payout Ratio is 0.30 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is National Grid (CHIX:NGL) Overvalued in 2026?

Based on GuruFocus' analysis, National Grid stock appears to be overvalued. The current stock price of £12.52 is trading 66.3% above its estimated GF Value™ of £7.53. GuruFocus considers National Grid to be Significantly Overvalued.

Key valuation signals for CHIX:NGL:

  • Dividend Payout Ratio: 0.30 (63% below median its 10-year median of 0.81)
  • GF Value™: £7.53 vs. price of £12.52 (66.3% above fair value)
  • GF Score™: 74/100 with 5 warning signs
  • Industry Position: 44.4% below the Utilities - Regulated median (#257 of 374)

No single metric tells the full story. See the CHIX:NGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

National Grid Business Description

Address 1-3 Strand, London, GBR, WC2N 5EH
National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission electricity networks in the United States, metering services and merchant transmission lines in the UK.
74GF Score

Get the complete analysis for CHIX:NGL

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

£12.52
Price
£7.53
GF Value