Public Service Company of New Mexico Declares Preferred Dividend

(Neutral)

Rhea-AI Summary

The Board of Directors of PNM Resources declared a quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock. This dividend is scheduled for payment on July 15, 2022, to shareholders on record as of the close of business on July 1, 2022. PNM Resources, which operates electricity services across New Mexico and Texas, reported $1.8 billion in consolidated revenues for 2021 and aims for 100% emissions-free energy by 2040.

Positive

Quarterly dividend of $1.145 per share highlights company's commitment to returning value to shareholders.
Increased confidence in future operations with a goal of 100% emissions-free energy by 2040.

Negative

None.

News Market Reaction – PNM

+1.11%

+1.11% Session move

In the trading session that priced this news, PNM gained 1.11%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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06/16/2022 - 08:12 PM

ALBUQUERQUE, N.M. , June 16, 2022 /PRNewswire/ -- The Board of Directors of Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable July 15, 2022 to shareholders of record at the close of business July 1, 2022.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2021 consolidated operating revenues of $1.8 billion. Through its regulated utilities, PNM and TNMP, PNM Resources provides electricity to approximately 800,000 homes and businesses in New Mexico and Texas. PNM serves its customers with a diverse mix of generation and purchased power resources totaling 3.2 gigawatts of capacity, with a goal to achieve 100% emissions-free energy by 2040. For more information, visit the company's website at www.PNMResources.com.

CONTACTS:
Analysts	Media
Lisa Goodman	Ray Sandoval
(505) 241-2160	(505) 241-2782

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SOURCE PNM Resources, Inc.

FAQ

What is the dividend amount declared by PNM Resources?

PNM Resources has declared a dividend of $1.145 per share.

When is the dividend for PNM Resources payable?

The dividend will be payable on July 15, 2022.

What is the record date for the PNM Resources dividend?

The record date for the dividend is July 1, 2022.

What are the financial highlights of PNM Resources?

In 2021, PNM Resources reported consolidated revenues of $1.8 billion.

What is the future energy goal of PNM Resources?

PNM Resources aims to achieve 100% emissions-free energy by 2040.