PNM Resources Increases Annual Dividend Payment By 5.4% To An Indicated Annual Rate Of $1.55 Per Share
Portfolio Pulse from Benzinga Newsdesk
PNM Resources has announced a 5.4% increase in its annual dividend payment, raising it to an indicated annual rate of $1.55 per share. The quarterly dividend of $0.3875 per share will be payable on February 16, 2024, to shareholders of record as of February 2, 2024. This increase aligns with the company's long-term earnings growth target of 5%.
December 05, 2023 | 9:33 pm
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POSITIVE IMPACT
PNM Resources has raised its annual dividend by 5.4%, indicating a new annual rate of $1.55 per share, with the next quarterly dividend set for February 16, 2024.
Dividend increases are typically viewed positively by the market as they signal confidence in the company's financial health and future earnings. PNM's alignment with its long-term earnings growth target further reinforces this positive outlook. Investors may see this as a reason to invest or hold the stock, potentially leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100