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Article: PNM Resources Announces 3-for-2 Stock Split; Maintains Common Stock Dividend.
- Article from:
- Business Wire
- Article date:
- May 18, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--May 18, 2004
The Board of Directors of PNM Resources (NYSE:PNM) has approved a 3-for-2 stock split. On June 11, 2004, PNM Resources shareholders will receive one additional share of PNM Resources common stock for every two shares held on June 1, 2004. PNM Resources common stock will begin trading on a split-adjusted basis on June 14, 2004.
"We expect that the split should enhance the market liquidity of our stock helping to expand our investor base with a strong focus on growing our retail ownership levels," said PNM Resources Chairman, President and Chief Executive Officer Jeff Sterba. "This ...