Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

Rhea-AI Summary

Niagara Mohawk Power Corp., a subsidiary of National Grid, has declared dividends for its preferred stock for the period from April 1, 2021 to June 30, 2021. The rates are as follows: 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series. Dividends will be paid on June 30, 2021, to shareholders of record by June 16, 2021. National Grid serves approximately 1.6 million electricity and 565,000 natural gas customers in upstate New York.

Positive

• Dividends declared for preferred stock, offering return on investment.
• Strengthening of shareholder confidence with consistent dividend payments.

Negative

• None.

SYRACUSE, N.Y., May 3, 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 April 1, 2021 to June 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 June 30, 2021, to holders of record on June 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.

 

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SOURCE Niagara Mohawk Power Corp.

FAQ

What are the dividend rates declared by NGG for April to June 2021?

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

When will the dividends for NGG be paid?

Dividends for NGG will be paid on June 30, 2021, to shareholders of record as of June 16, 2021.

How many customers does National Grid serve?

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

What is the significance of the declared dividends for NGG?

The declared dividends signify ongoing financial health and commitment to returning value to shareholders.