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National Grid plc | 6.00% Series Cumul Preferred Stock (NEWEN)
Prospectus excerpt: New England Power Co., 6.00% Series Cumulative Preferred Stock, par value $100 per share, noncallable, and with no mandatory redemption. Distributions of 6.00% ($6.00) per annum paid quarterly on 1/1, 4/1, 7/1 & 10/1. 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. New England Power Co. is a wholly-owned subsidiary of New England Electric System, now National Grid USA, a wholly-owned subsidiary of National Grid plc (NYSE: NGG). , Secondary Prospectus PDF », NGG Page »
Redeemable?: | Yes | Call Date: | 5/4/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Liquidation Preference: | $100.00 | Original Coupon: | 6.00% | Pay Period: | Quarterly | Pay Dates: | 1-Jan, 1-Apr, 1-Jul, 1-Oct | CDx3 Compliance Rating: |
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National Grid is a holding company. Through its subsidiaries, Co. is an energy utility. Co.'s business units include: U.K. electricity transmission (ET), in which Co. owns and operates the high-voltage ET network in England and Wales; U.K. electricity distribution, in which Co. owns ad operates the electricity distribution networks for the Midlands, the South West and South Wales; U.K. electricity system operator (ESO), in which Co. operates as the ESO across Great Britain; and New England, in which Co. owns and operates electricity transmission facilities and distribution networks across Massachusetts, New Hampshire and Vermont as well as gas distribution networks across Massachusetts. Preferreds: NMK.PRB, NMK.PRC, NEWEN, NMPWP Open the NGG Information Page »
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