PNM Resources hikes dividend by 6.1%

On February 3, 2022, PNM Resources Inc. (PNM) declared a 6.1% dividend increase to $0.3475 per share. This next dividend is payable February 24, 2022, to shareholders of record at the close of business February 14, 2022. A new annual dividend rate of $1.39 per share yields 2.9% at a stock price of $47.51. This will also mark the 11th consecutive year of dividend increases for the energy holding company.

PNM Resources Inc. is an energy holding company based in Albuquerque, N.M. Through its regulated utilities, PNM and TNMP, PNM Resources provides electricity to homes and businesses in New Mexico and Texas. PNM Resources reinstated its quarterly dividend in 1996.