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Article: PNM Resources Enhances Dividend Policy; PNM Resources Forecasts 2005 Earnings.
- Article from:
- Business Wire
- Article date:
- December 7, 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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ALBUQUERQUE, N.M. -- The board of directors of PNM Resources Inc. (NYSE:PNM) today approved a 15.6 percent increase in its common stock dividend for an indicated annual rate of $0.74 per share.
PNM Resources is also issuing earnings guidance for 2005. The company estimates that ongoing earnings, without any one-time gains or charges, or the results of the pending acquisition of TNP Enterprises Inc. (TNP), will range between $1.40 and $1.55 per share in 2005. This compares to a 2004 earnings range of $1.35 to $1.45. PNM Resources plans to announce 2004 fourth-quarter and full-year earnings on Feb. 22, 2005. Additionally, PNM Resources plans to revise its earnings ...