National Grid plc (NYSE:NGG) to Issue Semi-annual Dividend of $2.49

National Grid plc (NYSE:NGG) declared a semi-annual dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid a dividend of 2.4939 per share by the utilities provider on Tuesday, January 14th. This represents a yield of 4%. The ex-dividend date of this dividend is Friday, November 22nd.

National Grid has raised its dividend payment by an average of 4.0% per year over the last three years. National Grid has a payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect National Grid to earn $4.84 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 42.1%.

National Grid Price Performance

NGG stock opened at $63.58 on Wednesday. National Grid has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $66.69 and its two-hundred day moving average is $64.32.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. It 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.