Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

Rhea-AI Summary

Niagara Mohawk Power Corp., a subsidiary of National Grid, announced preferred stock dividends for Q4 2020. Dividends include: 0.85% on 3.40% Series, 0.90% on 3.60% Series, and 0.975% on 3.90% Series, all based on a $100 par value. These payments are set for December 31, 2020, for shareholders on record by December 17, 2020. The Company serves 1.6 million electric and 565,000 gas customers in upstate New York.

Positive

• Dividend declared for preferred stock, indicating stable income for shareholders.
• Payments scheduled for December 31, 2020, reflecting company commitment to shareholder returns.

Negative

• None.

SYRACUSE, N.Y., Oct. 22, 2020 /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, 2020 to December 31, 2020 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 31, 2020, to holders of record on December 17, 2020.

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:http://www.prnewswire.com/news-releases/niagara-mohawk-power-corporation-declares-preferred-stock-dividends-301158282.html

SOURCE National Grid

FAQ

What are the preferred stock dividends for NGG in Q4 2020?

Dividends are 0.85% for 3.40% Series, 0.90% for 3.60% Series, and 0.975% for 3.90% Series, based on $100 par value.

When will the dividends be paid for NGG's preferred stock?

The dividends will be paid on December 31, 2020.

What is the record date for NGG's preferred stock dividends?

The record date is December 17, 2020.

How many customers does Niagara Mohawk Power Corp. serve?

Niagara Mohawk Power Corp. serves approximately 1.6 million electricity customers and 565,000 natural gas customers.