NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

Rhea-AI Summary

Niagara Mohawk Power Corp., a National Grid USA subsidiary, announced dividend declarations for its preferred stock for the period of April 1, 2022, to June 30, 2022. The dividends include rates of 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series, all based on a $100 par value. These dividends will be payable on June 30, 2022, to shareholders on record as of June 16, 2022. National Grid serves about 3.3 million electricity customers across New York and New England.

Positive

• Dividend declarations indicate a stable income for shareholders.
• Dividends payable on June 30, 2022, show commitment to returning value to investors.

Negative

• None.

SYRACUSE, N.Y., May 31, 2022 /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, 2022 through June 30, 2022 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, 2022, to holders of record on June 16, 2022.

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 are the declared dividends for Niagara Mohawk Power Corp. for the period April 1, 2022, to June 30, 2022?

The declared dividends are 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series on a $100 par value.

When will the dividends for Niagara Mohawk Power Corp. be paid?

The dividends will be payable on June 30, 2022, to shareholders of record on June 16, 2022.

How many customers does National Grid serve?

National Grid serves approximately 3.3 million electricity customers and about 3.4 million natural gas customers in New York and New England.

What is the significance of the dividend declaration for investors?

The dividend declaration signifies a commitment to providing returns, indicating the company's financial stability and growth prospects.