Put all of National Grid under state control, net zero campaigners urge

Investors paid almost £9bn in dividends and share buyback schemes over last five years, report has revealed

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 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.