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, 2012 to
September 30, 2012 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 1, 2012, to holders
of record on September 17, 2012.
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.
