#United States #TXNM Energy #Albuquerque #Preferred Stock #PNM Energy

Public Service Company of New Mexico Declares Preferred Dividend

On March 6, 2025, the Board of Directors for Public Service Company of New Mexico (PNM), a subsidiary of TXNM Energy (NYSE: TXNM), officially announced a regular quarterly preferred dividend. Set at $1.145 per share on the 4.58% series of cumulative preferred stock, this decision will directly benefit shareholders who have held their shares by the record date of March 31, 2025. The dividend is scheduled to be paid on April 15, 2025.

The announcement comes as PNM continues its commitment to providing reliable energy to its customers across Texas and New Mexico. As a leading energy utility, PNM delivers services to over 800,000 residential and commercial customers, showcasing the company's solid foundation and dedication to serving its communities.

TXNM Energy, headquartered in Albuquerque, New Mexico, plays a pivotal role in energy delivery through its regulated utilities -- TNP and PNM. The company’s strategic focus aims not only to support economic growth within the region but also to foster sustainable energy usage and infrastructure development.

Background of TXNM Energy and PNM

As an integral part of the energy landscape in the Southwest, TXNM Energy operates several regulated utilities ensuring that the growing energy needs of residents and businesses are met efficiently and sustainably. The company highlights a robust operational strategy focusing on renewable energy resources and modernization of its utility platforms.

The cumulative preferred stock dividends serve as a reliable income stream for investors, reflecting TXNM Energy's sound financial management and commitment to shareholder value. This dividend declaration represents a significant aspect of PNM's ongoing engagement with its investors and underscores the company's dedication to transparency and consistent communication.

What This Means for Shareholders

For shareholders, the declaration of a preferred dividend is a positive signal indicating the company’s financial health and ongoing profitability. Preferred shares typically offer fixed dividends and higher claims on assets in the event of liquidation, making them an attractive investment option for those seeking stable income.

Investors looking to optimize their portfolios often consider utility stocks such as PNM due to their traditionally reliable performance and utility services that remain in demand regardless of market fluctuations. The upcoming dividends could encourage more investment in TXNM Energy as shareholder confidence builds.

Future Outlook

Looking ahead, TXNM Energy plans to enhance its service offerings and invest further in energy infrastructure. With an eye on sustainability and customer satisfaction, the company aims to adapt to evolving market dynamics, including increased demand for renewable energy sources. As energy efficiency becomes an essential part of planning for the future, PNM strives to remain at the forefront of innovations within the energy sector.

As of the end of 2024, TXNM Energy reported steady growth in revenues and customer base expansion, positioning the company competitively as it meets ongoing energy challenges across the southwestern United States.

The company encourages current and potential shareholders to regularly check its updates through the corporate website at www.TXNMEnergy.com for news on future dividends, strategic initiatives, and shareholder information.

In conclusion, the declared preferred dividend is indicative of Public Service Company of New Mexico's ongoing dedication to its investors and sustainable practices in the ever-evolving energy landscape.