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

National Grid plc (NYSE:NGG - Get Free Report) announced a semi-annual dividend on Friday, May 24th, Wall Street Journal reports. Shareholders 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 is Friday, June 7th. This is a positive change from National Grid's previous semi-annual dividend of $1.19.

National Grid has increased its dividend payment by an average of 4.0% annually over the last three years. National Grid has a payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. 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 %

National Grid stock traded down $1.04 during mid-day trading on Friday, reaching $60.68. The stock had a trading volume of 1,041,908 shares, compared to its average volume of 394,517. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. National Grid has a fifty-two week low of $56.40 and a fifty-two week high of $73.40. The stock's 50-day simple moving average is $67.91 and its 200-day simple moving average is $66.98.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NGG shares. StockNews.com upgraded National Grid from a "sell" rating to a "hold" rating in a report on Wednesday, April 3rd. Jefferies Financial Group upgraded National Grid from a "hold" rating to a "buy" rating in a report on Monday, February 5th. Finally, BNP Paribas upgraded National Grid from an "underperform" rating to an "outperform" rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,165.00.

National Grid Company Profile

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.