NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

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Niagara Mohawk Power Corp (NYSE: NMP) has declared dividends for its preferred stock series, with rates ranging from .85% to .975%. The dividends are payable on December 29, 2023, to holders of record on December 18, 2023. The company, operating as National Grid, serves electricity to 1.6 million customers and natural gas to 565,000 customers in upstate New York. National Grid plc (LSE: NG; NYSE:NGG), the parent company, delivers electricity to 3.3 million customers and is the largest distributor of natural gas in the northeastern U.S.

Positive

• Niagara Mohawk Power Corp declares dividends for its preferred stock series
• National Grid, the parent company, has a significant customer base in New York and New England

Negative

• None.

SYRACUSE, N.Y., Nov. 20, 2023 /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 October 1, 2023 through December 31, 2023 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 December 29, 2023 – December 31 falls on a weekend, therefore the payment date is moved -- to holders of record on December 18, 2023.

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 New York and New England. It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in New York and New England.

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SOURCE Niagara Mohawk Power Corp.

FAQ

What dividends did Niagara Mohawk Power Corp declare?

Niagara Mohawk Power Corp declared dividends for all outstanding series of its preferred stock at rates ranging from .85% to .975%.

When are the dividends payable?

The dividends are payable on December 29, 2023.

How many customers does National Grid serve?

National Grid serves approximately 1.6 million electricity customers and 565,000 natural gas customers in upstate New York, and 3.3 million electricity customers in New York and New England, making it the largest distributor of natural gas in the northeastern U.S.