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PNM Resources Board Declares Quarterly Dividends

^{Published on 2008-12-09 16:13:49 - Market Wire}
 

ALBUQUERQUE, N.M.--([ BUSINESS WIRE ])--The Board of Directors of PNM Resources (NYSE: PNM) today declared the regular quarterly dividends of $0.125 per share on its common stock and $1.25 per share on its convertible preferred Series A stock, each share of which is convertible into 10 shares of common stock. The indicated annual rate is $0.50 per share of common stock. The dividends are payable Feb. 13, 2009, to shareholders of record at the close of business Jan. 23, 2009.

Also today, the Board of Directors of PNM, 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 Jan. 15, 2009, to shareholders of record at the close of business Jan. 1, 2009.

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 more than 859,000 homes and businesses in New Mexico and Texas and natural gas to more than 495,000 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 approximately 2,700 megawatts, PNM Resources and its subsidiaries market power throughout the Southwest, Texas and the West. In addition, the company has a 50-percent ownership of EnergyCo, which owns approximately 920 megawatts of generation. For more information, visit [ www.PNMResources.com ].