NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

Niagara Mohawk Power Corp., a subsidiary of National Grid, has declared preferred stock dividends for the period from October 1, 2022 to December 31, 2022.

Rhea-AI Summary

Niagara Mohawk Power Corp., a subsidiary of National Grid, has declared preferred stock dividends for the period from October 1, 2022 to December 31, 2022. The dividend rates are 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 are payable on January 2, 2023, to shareholders on record as of December 19, 2022. National Grid serves approximately 1.6 million electricity and 565,000 natural gas customers in upstate New York.

Positive

• Declared preferred stock dividends signaling company stability.
• Consistent dividend rates enhancing shareholder income.

Negative

• None.

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SYRACUSE, N.Y., Nov. 23, 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 Oct. 1, 2022 through Dec. 31, 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 Jan. 2, 2023, to holders of record on Dec. 19, 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 National Grid

FAQ

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What are the preferred stock dividend rates for NGG?

The preferred stock dividend rates for Niagara Mohawk Power Corp. (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?

The dividends for NGG will be paid on January 2, 2023, to holders of record as of December 19, 2022.

For which period are the dividends declared?

The dividends are declared for the period from October 1, 2022, to December 31, 2022.

How many customers does National Grid serve?

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