National Grid PLC (LON:NG.) has been in the news recently after announcing an agreement to sell most of its UK gas distribution business.
For some inexplicable reason I was watching CNBC that morning and the presenter said something along the lines of “surely income investors can’t go far wrong with National Grid’s 4.7% dividend yield”.
And yes, I must admit that a 4.7% yield (at a share price of 930p) from what is perhaps one of the most defensive companies in the FTSE 100 does sound interesting. So interesting, in fact, that I decided to take a closer look. And this is what I found…
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