The Board of Directors of PNM Resources (NYSE: PNM) today voted to increase the company's annual dividend payment by $0.08, a 5.4% increase, to an indicated annual rate of $1.55 per share of common stock. The increase is consistent with the company's targeted long-term ongoing earnings per share growth rate of 5%.
The board has declared the resulting quarterly stock dividend of $0.3875 per share, payable February 16, 2024, to shareholders of record at the close of business February 2, 2024.
Also today, the Board of Directors of Public Service Company of New Mexico, a subsidiary of PNM Resources, 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, 2024 to shareholders of record at the close of business December 29, 2023.
