National Grid, which maintains the backbone of Britain’s electricity network, should be taken under government control to ensure the rapid transition to net zero, campaigners said, after a report revealed that the business paid investors almost £9bn in dividends and share buyback schemes over the last five years.
The stock-market-listed firm, which counts the fund managers BlackRock, Vanguard and the Abu Dhabi Investment Authority among its top five shareholders, has a 19% operating margin on its electricity business, allowing the board to fund an average £1bn a year in dividends.
