NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

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Niagara Mohawk Power Corp., a subsidiary of National Grid USA, has declared dividends for its preferred stock for the period July 1, 2023, through September 30, 2023. The rates for the outstanding series of preferred stock are as follows: 0.85% on the $100 par value, 3.40% Series; 0.90% on the $100 par value, 3.60% Series; and 0.975% on the $100 par value, 3.90% Series. The dividends will be payable on October 2, 2023, to holders of record on September 18, 2023.

SYRACUSE, N.Y., Aug. 16, 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 July 1, 2023 through September 30, 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.

The preferred stock dividends are payable on October 2, 2023 – the divided payment date was moved to October 2 as September 30 falls on a weekend -- to holders of record on September 18, 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.

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SOURCE Niagara Mohawk Power Corp.

FAQ

What company declared dividends for its preferred stock?

Niagara Mohawk Power Corp. declared dividends for its preferred stock.

Who is the parent company of Niagara Mohawk Power Corp?

National Grid USA is the parent company of Niagara Mohawk Power Corp.

What are the rates for the outstanding series of preferred stock?

The rates for the outstanding series of preferred stock are as follows: 0.85% on the $100 par value, 3.40% Series; 0.90% on the $100 par value, 3.60% Series; and 0.975% on the $100 par value, 3.90% Series.

When will the dividends be payable?

The dividends will be payable on October 2, 2023.

Who are the holders of record for the dividends?

The holders of record for the dividends are those recorded on September 18, 2023.