News
PNM Resources Board Declares Quarterly Common Stock Dividend
ALBUQUERQUE, N.M.-(Business Wire)-February 19, 2008 - The Board of Directors of PNM Resources (NYSE: PNM) today declared the regular quarterly dividend on common stock of $0.23 per share. The indicated annual rate of $0.92 per share is unchanged from the previous quarter. The dividend is payable May 2, 2008, to shareholders of record as of April 9, 2008.
"The board carefully considered the company's current financial situation in making this decision," said Jeff Sterba, chairman, president and CEO. "The dividend is an important aspect of providing long-term value to shareholders. In this regard, long-term decisions on dividend policy will consider overall regulatory treatment, including the outcome in the pending PNM electric rate case."
Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2007 consolidated operating revenues from continuing and discontinued operations of $2.4 billion. Through its utility and energy subsidiaries, PNM Resources serves electricity to approximately 835,000 homes and businesses in New Mexico and Texas and natural gas to nearly 492,000 customers in New Mexico. Its utility subsidiaries are PNM and Texas-New Mexico Power. Another subsidiary is First Choice Power, a deregulated competitive retail electric provider in Texas. With generation resources of more than 2,650 megawatts, PNM Resources and its subsidiaries market power throughout the Southwest, Texas and the West. In addition, the joint venture in which the company has a 50-percent ownership owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com.
Search Our News Using Google Search
Can't find what you want? Try using Google:
