National Grid owns and runs electricity networks in England and Wales, and electricity and gas networks in the north-eastern United States.
What you get
National Grid’s dividend page offers EQ Boost to ordinary shareholders. You can use your dividends to buy retailer vouchers worth more than the cash spent. The increase varies by retailer.
What it takes
The published terms do not state a minimum shareholding.
Qualifying shares: fully paid National Grid ordinary shares.
You spend your own dividend money. Choosing EQ Boost replaces the dividend instruction Equiniti holds for that holding, including any dividend reinvestment or scrip instruction. The whole dividend goes to EQ Boost, and you cannot top up the account with other money.
Before buyingA perk is a minor benefit of owning a share, not a reason to buy one. Share prices fall as well as rise, and dealing costs, spreads and tax can exceed a perk’s value. Read about the risks.
Holding through a broker
Shares held in your own name qualify.
EQ excludes ordinary broker nominees. It permits company-sponsored nominees in general, and Equiniti runs National Grid’s nominee. Neither source confirms that this nominee can elect EQ Boost. Ask Equiniti before changing your dividend instruction.
Other conditions
- Age and residency
- You must be over 18. EQ’s terms appear to limit the service to UK residents; if you live elsewhere, ask Equiniti before you apply.
- Excluded holders
- Corporate shareholders; executors and administrators acting for deceased shareholders
- Joint holdings
- The account opens in the first-named holder’s name. They must have permission to create it, and withdrawals go to a bank account in their name.
How to claim
You need your National Grid holding in Shareview Portfolio, an email address and your date of birth.
- 1. Choose EQ Boost for your National Grid holdingSign in to Shareview Portfolio. Open “My Investments”, select your holding and choose EQ Boost on its Dividend Election page. Follow the activation email to register.
- 2. Buy vouchers when the dividend arrivesSign in to EQ Boost, compare the voucher offers and read their terms before buying.
Dates
The published terms do not say how long you must hold the shares.
- Qualifying date
- You must qualify for the dividend you redirect. Check National Grid’s dividend page for each payment’s record date.
- Claim deadline
- Choose EQ Boost at least 15 working days before the dividend payment date, unless EQ states another deadline. A late instruction takes effect for a later dividend.
- Expiry
- Each retailer sets its voucher expiry and spending rules.
Practical notes
Voucher and account risks
Vouchers are in sterling. If a retailer goes out of business, you could lose the value of its unspent vouchers. EQ Boost is not regulated by the Financial Conduct Authority (FCA), and money in the account has no Financial Services Compensation Scheme protection. If Equiniti Financial Services Limited holds your shares, the dividend loses FCA client-money protection when it moves to EQ Boost.
Changing back to cash
You can withdraw unspent money to a UK bank account in the account holder’s name. To stop future dividends going to EQ Boost, change the election by the same deadline shown above. A late change may send one more dividend to EQ Boost.