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Posted by
Two Blokes Jun 11 -
Filed in
Stock
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7 views
National Grid's monopoly status attracts investors, but I see the shares as overvalued with a risky long-term dividend outlook after this year's cut. The recent dividend cut—masked by management as a 'rebased' increase—confirms my concerns about the sustainability of payouts amid heavy capex and debt. Despite a rights issue and rising share price, National Grid's cash flows remain weak relative to its massive capital needs and ongoing debt obligations.
