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ALBUQUERQUE, N.M., Jun 09, 2008 (BUSINESS WIRE) -- The Board of Directors of PNM, a subsidiary of PNM Resources (NYSE: PNM), has 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 July 15, 2008, to shareholders of record at the close of business July 1, 2008.
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 company has a 50-percent ownership of EnergyCo, which owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com.
SOURCE: PNM Resources
PNM Resources, Albuquerque Gina Jacobi, 505-241-2211 (Analysts) Frederick Bermudez, 505-241-4831 (Analysts & Media)
Copyright Business Wire 2008
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