Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

(Neutral)

Rhea-AI Summary

Niagara Mohawk Power Corp., an indirect subsidiary of National Grid, has declared dividends on preferred stock for the period from January 1 to March 31, 2021. The rates are: 0.85% for the 3.40% Series, 0.90% for the 3.60% Series, and 0.975% for the 3.90% Series. Dividends are payable on March 31, 2021, to shareholders on record as of March 17, 2021. National Grid provides service to approximately 1.6 million electricity customers and 565,000 natural gas customers in upstate New York.

Positive

Dividend declared of 0.85%, 0.90%, and 0.975% for preferred stock, signaling financial stability.
Dividends payable on March 31, 2021, enhancing income for shareholders.

Negative

None.

News Market Reaction – NGG

-0.18%

-0.18% Session move

In the trading session that priced this news, NGG declined 0.18%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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01/20/2021 - 12:31 PM

SYRACUSE, N.Y., Jan. 20, 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 Jan. 1, 2021 to March 31, 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 March 31, 2021, to holders of record on March 17, 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.

View original content:http://www.prnewswire.com/news-releases/niagara-mohawk-power-corporation-declares-preferred-stock-dividends-301211864.html

SOURCE National Grid

FAQ

What are the dividend rates declared by Niagara Mohawk Power Corp. for January to March 2021?

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.

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

The dividends will be paid on March 31, 2021, to holders of record as of March 17, 2021.

How many customers does National Grid serve in New York?

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

What is the stock symbol for National Grid?

The stock symbol for National Grid is NGG.