TXNM Energy increases dividend 5.2% to $1.63

The Board of Directors of TXNM Energy (TXNM) voted to increase the company’s annual dividend payment by 8c, a 5.2% increase, to an indicated annual rate of $1.63 per share of common stock. The board has declared the resulting quarterly stock dividend of 40.75c per share, payable February 14, 2025, to shareholders of record at the close of business January 31, 2025. Also today, the Board of Directors of Public Service Company of New Mexico, wholly owned subsidiary of TXNM Energy, declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable January 15, 2025, to shareholders of record at the close of business December 31.