National Grid plc (NGG) to Issue Semi-annual Dividend of $2.49 on January 14th

National Grid plc (NYSE:NGG) announced a semi-annual dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders 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 increased its dividend by an average of 4.0% per year over the last three years. National Grid has a dividend payout ratio of 102.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect National Grid to earn $4.93 per share next year, which means the company may not be able to cover its $4.99 annual dividend with an expected future payout ratio of 101.2%.

National Grid Price Performance

NYSE:NGG opened at $63.94 on Friday. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. The stock has a 50-day simple moving average of $67.34 and a 200 day simple moving average of $64.56.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NGG. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.