NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

Rhea-AI Summary

On February 15, 2023, Niagara Mohawk Power Corp., a subsidiary of National Grid USA, declared dividends for its preferred stock for the period from January 1, 2023, to March 31, 2023. The dividends are as follows:

• .85% for the 3.40% Series
• .90% for the 3.60% Series
• .975% for the 3.90% Series

These dividends will be payable on March 31, 2023, to shareholders of record as of March 17, 2023. National Grid serves around 1.6 million electricity customers and 565,000 natural gas customers in upstate New York.

Positive

• Dividends declared for three preferred stock series, providing income for shareholders.
• Continued operational stability serving approximately 1.6 million electricity and 565,000 gas customers.

Negative

• None.

News Market Reaction

-1.08%

1 alert

-1.08% News Effect

On the day this news was published, NGG declined 1.08%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SYRACUSE, N.Y., Feb. 15, 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 Jan. 1, 2023 through March 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.

NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

The preferred stock dividends are payable on March 31, 2023, to holders of record on March 17, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/niagara-mohawk-power-corporation-declares-preferred-stock-dividends-301748138.html

SOURCE Niagara Mohawk Power Corp.

FAQ

What is the dividend payment date for NGG and NMK.PRB?

The dividend payment date for NGG and NMK.PRB is March 31, 2023.

What were the declared dividend rates for preferred stock?

The declared dividend rates are .85% for the 3.40% Series, .90% for the 3.60% Series, and .975% for the 3.90% Series.

When is the record date for the preferred stock dividends?

The record date for the preferred stock dividends is March 17, 2023.

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.