A Steady Hand: PNM Confirms Quarterly Dividend for Preferred Shareholders

In the often-unpredictable world of investments, there’s something undeniably reassuring about a consistent dividend. And for shareholders holding Public Service Company of New Mexico’s 5.50% Series A Preferred Stock, that steady rhythm continues. The utility, it seems, is keeping its word, and its preferred stockholders can, for once, breathe a little easier.

Just recently, PNM made it official: a regular quarterly dividend has been declared. This isn't groundbreaking news, perhaps, but it's certainly good news for those who rely on such income streams. Specifically, we're talking about a payment of $0.34375 for each share of the 5.50% Series A Preferred Stock. A nice, solid figure, you could say.

But when will this actually hit accounts, you might wonder? Well, the company has set November 15, 2024, as the payment date. Crucially, though, only shareholders of record as of October 28, 2024, will be eligible for this particular payout. So, if you're looking to benefit, mark those calendars, or rather, ensure your holdings are squared away before the record date passes. It’s always these little details that matter, isn’t it?

In truth, this declaration underscores PNM’s ongoing commitment to its preferred equity investors. It signals a certain stability, a continued operation in line with expectations, which, honestly, is what most investors truly seek from a well-established utility like Public Service Company of New Mexico. No surprises, just reliable returns – and that, for many, is the very best kind of news.