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National Grid takes hit from COVID-19 but confirms dividend rise

25/06/2020 · Hikma (HIK)  · National Grid (NG) 

Coronavirus UK

National Grid towers image

Income Booster National Grid expects cash costs of up to £1bn as a result of the coronavirus pandemic. But these should be recovered and management remain confident in the outlook.

Utility stocks are a traditional safe haven for income investors, but recent years have seen dividend cuts from several big players. Among those which have maintained their dividends are utility reseller Telecom Plus and the UK's gas and electricity network operator, National Grid (LON: NG).

Both companies are members of our Income Boosters portfolio. We covered the latest numbers from Telecom Plus last week. This week it's the turn of National Grid, which recently reconfirmed…

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