PNM Resources Board Increases Dividend Payment, Declares Quarterly Common Stock Dividend

ALBUQUERQUE, N.M., Dec. 10, 2015 /PRNewswire/ -- At its regular meeting held today, the Board of Directors of PNM Resources (NYSE: PNM) unanimously voted to increase the company's annual dividend payment by $0.08, a 10.0 percent increase, to an indicated annual rate of $0.88 per share of common stock. This is consistent with the company's target to pay out 50 to 60 percent of annual ongoing earnings. The board has declared the resulting quarterly stock dividend of $0.22 per share, payable Feb. 12, 2016, to shareholders of record at the close of business Jan. 25, 2016.

Background:PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2014 consolidated operating revenues of $1.4 billion. Through its regulated utilities, Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP), PNM Resources has approximately 2,707 megawatts of generation capacity and provides electricity to more than 753,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

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Non-GAAP Financial MeasuresThe Company uses ongoing earnings to evaluate the operations of the Company and to establish goals for management and employees.  While the Company believes this financial measure is appropriate and useful for investors, it is not a measure presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"). Ongoing earnings excludes certain non-recurring, infrequent and other items from earnings determined in accordance with GAAP.

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SOURCE PNM Resources