PR Newswire | Jul 23, 2020 03:39PM EDT

07/23 14:38 CDT

Niagara Mohawk Power Corporation Declares Preferred Stock Dividends SYRACUSE, N.Y., July 23, 2020

SYRACUSE, N.Y., July 23, 2020 /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, 2020 to September 30, 2020 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 September 30, 2020, to holders of record on September 16, 2020.

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.

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SOURCE National Grid