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Security Details
- Coupon Rate
- 4.76%
- Liquidation Preference
- $100.00
- Call Price
- $103.73
- Call / Redemption Date
- —
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 4.76000
- Distribution Dates
- 2/1, 5/1, 8/1 & 11/1
- Credit Ratings
- Moody's NR · S&P NR (2/25/2022)
- Tax-Advantaged Dividends
- Yes
Security Profile
- CUSIP
- 575634308
- Market Cap
- Micro Cap · $2 Million
- Parent Company
- National Grid plc (NGG)
Business: Massachusetts Electric Co., 4.76% Series Cumulative Preferred Stock, par value $100 per share, redeemable any time at the company's option at $103.73 per share plus accrued and unpaid dividends, and with no mandatory redemption. Distributions of 4.76% ($4.76) per annum are paid quarterly on 2/1, 5/1, 8/1 & 11/1. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. Massachusetts Electric Co. is a wholly-owned subsidiary of New England Electric System, now National Grid USA, a wholly-owned subsidiary of National Grid Transco plc (NYSE: NGG).
Notes: Declared an inactive issue per the Other OTC on 7/1/2009.
Company Contact
- Investor Relations
- Kwok.liu@nationalgrid.com