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Security Details
- Coupon Rate
- 3.40%
- Liquidation Preference
- $100.00
- Call Price
- $103.50
- Call / Redemption Date
- —
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 3.40
- Distribution Dates
- 3/31, 6/30, 9/30 & 12/31
- Credit Ratings
- Moody's Baa3 · S&P BBB- (6/15/2025)
- Tax-Advantaged Dividends
- Yes
Security Profile
- CUSIP
- 653522201
- Market Cap
- Micro Cap
- Previous Symbol
- NMK-A (changed 4/30/2002)
- Parent Company
- National Grid plc (NGG)
Business: Niagara Mohawk Power Corp., 3.40% Series Cumulative Preferred Stock, par value $100 per share, redeemable any time at the company's option at $103.50 per share plus accrued and unpaid dividends, and not subject to mandatory redemption. Distributions of 3.40% ($3.40) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31. 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. Niagara Mohawk Power Corp. is a wholly-owned subsidiary of National Grid Transco plc (NYSE: NGG) as of December 2001.
Company Contact
- Investor Relations
- Kwok.liu@nationalgrid.com