National Grid plc (NYSE:NGG) announced a semiannual dividend on Tuesday, May 21st, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 2.0256 per share by the utilities provider on Wednesday, August 14th. The ex-dividend date is Thursday, May 30th.
National Grid has decreased its dividend payment by an average of 20.2% annually over the last three years. National Grid has a payout ratio of 104.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NGG stock opened at $52.13 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. National Grid has a 52 week low of $46.36 and a 52 week high of $59.01. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 10.06 and a beta of 0.43.
Separately, Zacks Investment Research downgraded National Grid from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th.
About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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