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Featured MNV Articles:
| National Grid Series Preferred Stock Goes Ex-Dividend SoonBy Preferred Stock Channel Staff, Tuesday, June 13, 1:39 PM ET
On 6/15/23, National Grid plc's 3.60% Series Preferred Stock (NMK.PRB) will trade ex-dividend, for its quarterly dividend of $0.90, payable on 6/30/23. As a percentage of NMK.PRB's recent share price of $77.51, this dividend works out to approximately 1.16%, so look for shares of NMK.PRB to trade 1.16% lower — all else being equal — when NMK.PRB shares open for trading on 6/15/23. On an annualized basis, the current yield is approximately 4.64%, which compares to an average yield of 6.34% in the "Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, NMK.PRB was trading at a 22.49% discount to its liquidation preference amount. The chart below shows the one year performance of NMK.PRB shares, versus NGG:
Below is a dividend history chart for NMK.PRB, showing historical dividends prior to the most recent $0.90 on National Grid plc's 3.60% Series Preferred Stock: Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Tuesday trading, National Grid plc's 3.60% Series Preferred Stock (NMK.PRB) is currently down about 0.7% on the day, while the common shares (NYSE:NGG) are trading flat.
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