TXNM Energy Increases Common Dividend

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TXNM Energy (NYSE: TXNM) announced a 5.2% increase in its annual dividend payment, raising it by $0.08 to $1.63 per share of common stock. The quarterly dividend of $0.4075 per share will be payable on February 14, 2025, to shareholders of record as of January 31, 2025.

Additionally, Public Service Company of New Mexico, a wholly owned subsidiary of TXNM Energy, declared its regular quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock, payable January 15, 2025, to shareholders of record as of December 31, 2024.

Positive

• 5.2% increase in annual dividend payment to $1.63 per share
• Strong market presence serving over 800,000 customers across Texas and New Mexico

Negative

• None.

TXNM Energy and Public Service Company of New Mexico Declare Quarterly Dividends

ALBUQUERQUE, N.M., Dec. 3, 2024 /PRNewswire/ -- The Board of Directors of TXNM Energy (NYSE: TXNM) today voted to increase the company's annual dividend payment by $0.08, a 5.2% increase, to an indicated annual rate of $1.63 per share of common stock.

The board has declared the resulting quarterly stock dividend of $0.4075 per share, payable February 14, 2025, to shareholders of record at the close of business January 31, 2025.

Also today, the Board of Directors of Public Service Company of New Mexico, wholly owned subsidiary of TXNM Energy, 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 January 15, 2025, to shareholders of record at the close of business December 31, 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) 241-2743

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995Statements made in this news release for TXNM Energy, Inc. ("TXNM"), Public Service Company of New Mexico ("PNM"), or Texas-New Mexico Power Company ("TNMP") (collectively, the "Company") that relate to future events or expectations, projections, estimates, intentions, goals, targets, and strategies, including the unaudited financial results and earnings guidance, are made pursuant to the Private Securities Litigation Reform Act of 1995. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates and apply only as of the date of this report. TXNM, PNM, and TNMP assume no obligation to update this information. Because actual results may differ materially from those expressed or implied by these forward-looking statements, TXNM, PNM, and TNMP caution readers not to place undue reliance on these statements. TXNM's, PNM's, and TNMP's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond their control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. For a discussion of risk factors and other important factors affecting forward-looking statements, please see the Company's Form 10-K, Form 10-Q filings and the information included in the Company's Forms 8-K with the Securities and Exchange Commission, which factors are specifically incorporated by reference herein.

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SOURCE TXNM Energy, Inc.

FAQ

What is TXNM Energy's new annual dividend rate after the December 2024 increase?

TXNM Energy's new annual dividend rate is $1.63 per share, following a 5.2% increase of $0.08.

When will TXNM Energy pay its next quarterly dividend in 2025?

TXNM Energy will pay its quarterly dividend of $0.4075 per share on February 14, 2025, to shareholders of record as of January 31, 2025.

What is the quarterly dividend amount for TXNM's subsidiary Public Service Company of New Mexico's preferred stock?

Public Service Company of New Mexico declared a quarterly dividend of $1.145 per share on its 4.58% series of cumulative preferred stock.