National Grid edges up capex projections

Energy supplier National Grid is targeting a four per cent increase in its dividend this fiscal year after turning in slightly better than expected figures for the year just ended.

Energy supplier National Grid is targeting a four per cent increase in its dividend this fiscal year after turning in slightly better than expected figures for the year just ended.

Adjusted profit before tax in the year ended March 31st was £2,585m, up 5% from £2,473m the year before and ahead of market expectations of £2,545m. Excluding the impact of timing and major storms (such as Hurricane Irene), profit before tax increased by 23% using constant exchange rates.

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