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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  National Grid plc    NG.   GB00B08SNH34

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National Grid plc : Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

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06/07/2013 | 06:00pm CET

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, 2013 to June 30, 2013 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 July 1, 2013, to holders of record on June 17, 2013.

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, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA) which agreement is scheduled to expire on December 31, 2013. 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. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.

Niagara Mohawk Power Corp.
Virginia Limmiatis, 315-452-7708

© Business Wire 2013
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Financials ( GBP)
Sales 2017 16 298 M
EBIT 2017 4 044 M
Net income 2017 2 388 M
Debt 2017 28 049 M
Yield 2017 4,92%
P/E ratio 2017 13,62
P/E ratio 2018 13,65
EV / Sales 2017 3,81x
EV / Sales 2018 3,71x
Capitalization 33 978 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 9,80  GBP
Spread / Average Target 8,6%
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John Mark Pettigrew Chief Executive Officer & Executive Director
Peter Oliver Gershon Non-Executive Chairman
Andrew R. J. Bonfield Executive Director & Finance Director
Richard Adduci Chief Information Officer
Ruth Kelly Independent Non-Executive Director
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