National Grid plc (NGG) to Issue Semi-annual Dividend of $2.49 on July 19th

National Grid plc (NYSE:NGG) announced a semi-annual dividend on Friday, May 24th, Wall Street Journal reports. Investors of record on Friday, June 7th will be paid a dividend of 2.4939 per share by the utilities provider on Friday, July 19th. This represents a yield of 6%. The ex-dividend date of this dividend is Friday, June 7th. This is a boost from National Grid’s previous semi-annual dividend of $1.19.

National Grid has raised its dividend payment by an average of 4.0% per year over the last three years. National Grid has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect National Grid to earn $5.04 per share next year, which means the company should continue to be able to cover its $2.38 annual dividend with an expected future payout ratio of 47.2%.

National Grid Trading Down 1.7 %

NYSE:NGG opened at $60.69 on Friday. National Grid has a 52 week low of $56.40 and a 52 week high of $73.40. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average is $67.77 and its two-hundred day moving average is $67.01.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NGG. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group raised shares of National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,050.00.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.