Public Service Company of New Mexico Declares Preferred Dividend

(Neutral)

Rhea-AI Summary

Public Service Company of New Mexico, a subsidiary of TXNM Energy (NYSE: TXNM), has declared its regular quarterly dividend on preferred stock. The Board of Directors announced a dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. This dividend is payable on October 15, 2024, to shareholders of record at the close of business on September 30, 2024.

TXNM Energy is an energy holding company based in Albuquerque, New Mexico. It serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. This dividend declaration demonstrates the company's commitment to providing consistent returns to its preferred shareholders.

Positive

Regular quarterly dividend maintained at $1.145 per share for preferred stockholders
Consistent dividend payments indicate financial stability and shareholder commitment
TXNM Energy serves a large customer base of over 800,000 homes and businesses

Negative

None.

News Market Reaction – TXNM

+1.76%

+1.76% Session move

In the trading session that priced this news, TXNM gained 1.76%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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09/11/2024 - 04:30 PM

ALBUQUERQUE, N.M., Sept. 11, 2024 /PRNewswire/ -- The Board of Directors of Public Service Company of New Mexico, a subsidiary of TXNM Energy (NYSE: TXNM), 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 October 15, 2024, to shareholders of record at the close of business September 30, 2024.

Background:
TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at www.TXNMEnergy.com.

CONTACTS:
Analysts	Media
Lisa Goodman	Corporate Communications
(505) 241-2160	(505) 241-2783

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SOURCE TXNM Energy, Inc.

FAQ

What is the dividend amount for TXNM Energy's preferred stock?

The dividend amount for TXNM Energy's preferred stock is $1.145 per share on the 4.58 percent series of cumulative preferred stock.

When is the dividend payable for TXNM Energy's preferred stock?

The dividend for TXNM Energy's preferred stock is payable on October 15, 2024.

What is the record date for TXNM Energy's preferred stock dividend?

The record date for TXNM Energy's preferred stock dividend is September 30, 2024, at the close of business.

How many customers does TXNM Energy serve?

TXNM Energy serves more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.