National Grid plc Declares Special Dividend of $5.42 (NGG)
National Grid plc (NYSE:NGG) announced a special dividend on Friday, April 21st. Shareholders of record on Friday, May 19th will be given a dividend of 5.4224 per share by the utilities provider on Friday, June 2nd. This represents a yield of 4.92%. The ex-dividend date is Wednesday, May 17th.
National Grid plc has raised its dividend by an average of 0.1% per year over the last three years. National Grid plc has a dividend payout ratio of 42.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect National Grid plc to earn $4.24 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 44.1%.
National Grid plc (NYSE:NGG) traded up 0.91% during midday trading on Friday, reaching $64.18. 367,430 shares of the company’s stock were exchanged. The firm has a market capitalization of $48.30 billion, a price-to-earnings ratio of 18.93 and a beta of 0.43. The firm’s 50 day moving average is $62.45 and its 200 day moving average is $60.95. National Grid plc has a 52 week low of $56.50 and a 52 week high of $74.97.
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Several brokerages have issued reports on NGG. BNP Paribas upgraded National Grid plc from an “underperform” rating to a “neutral” rating in a report on Tuesday, March 21st. Societe Generale upgraded National Grid plc from a “sell” rating to a “hold” rating in a report on Friday, March 17th. Zacks Investment Research cut National Grid plc from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Royal Bank of Canada upgraded National Grid plc from a “sector perform” rating to an “outperform” rating in a report on Monday, January 30th. Finally, Berenberg Bank upgraded National Grid plc from a “hold” rating to a “buy” rating in a report on Friday, January 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. National Grid plc presently has an average rating of “Hold” and an average target price of $73.00.
National Grid plc Company Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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