NIAGARA MOHAWK POWER CORPORATION DECLARES PREFERRED STOCK DIVIDENDS

SYRACUSE, N.Y., Aug. 16, 2023 /PRNewswire/ -- 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, 2023 through September 30, 2023 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 2, 2023 – the divided payment date was moved to October 2 as September 30 falls on a weekend -- to holders of record on September 18, 2023.

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 New York and New England. It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in New York and New England.

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SOURCE Niagara Mohawk Power Corp.