Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

Rhea-AI Summary

Niagara Mohawk Power Corp., under National Grid USA, announced preferred stock dividends for the period July 1, 2021, to September 30, 2021. The declared rates are: 0.85% on the 3.40% Series, 0.90% on the 3.60% Series, and 0.975% on the 3.90% Series. The dividends are payable on September 30, 2021, to shareholders on record as of September 16, 2021. National Grid serves about 1.6 million electricity customers and 565,000 natural gas customers in upstate New York. The company is a significant distributor of natural gas in the northeastern U.S.

Positive

• Declared dividends for preferred stock, providing income for shareholders
• Strong customer base with approximately 1.6 million electricity and 565,000 natural gas customers

Negative

• None.

SYRACUSE, N.Y., Aug. 17, 2021 /PRNewswire/ -- Niagara Mohawk Power Corp. (the "Company"), an indirect subsidiary of National Grid USA ("National Grid"), announced that its Board of Directors has declared dividends for the period July 1, 2021 to September 30, 2021 at the following rates for all outstanding series of its preferred stock:

• .85% on the $100 par value, 3.40% Series;
• .90% on the $100 par value, 3.60% Series;
• .975% on the $100 par value, 3.90% Series.

The preferred stock dividends are payable on September 30, 2021, to holders of record on September 16, 2021.

The Company, doing business as National Grid, provides electricity service to approximately 1.6 million customers and natural gas service to approximately 565,000 customers in upstate New York.  The Company is based in Syracuse, N.Y.  

National Grid is an indirect subsidiary of National Grid plc (LSE: NG; NYSE:NGG).  National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New York and Rhode Island. It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New York and Rhode Island.

 

View original content:https://www.prnewswire.com/news-releases/niagara-mohawk-power-corporation-declares-preferred-stock-dividends-301357297.html

SOURCE Niagara Mohawk Power Corp.

FAQ

What are the dividend rates declared by Niagara Mohawk Power Corp. for the period July to September 2021?

The dividend rates are 0.85% on the 3.40% Series, 0.90% on the 3.60% Series, and 0.975% on the 3.90% Series.

When is the dividend payment date for Niagara Mohawk Power Corp.?

The dividends are payable on September 30, 2021.

What is the record date for dividend payments from Niagara Mohawk Power Corp.?

The record date for dividend payments is September 16, 2021.

How many customers does National Grid serve in upstate New York?

National Grid serves approximately 1.6 million electricity customers and 565,000 natural gas customers in upstate New York.