On September 22, 2020, PNM Resources PNM declared a dividend payable on November 13, 2020 to its shareholders. PNM Resources also announced that shareholders on the company's books on or before November 2, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. PNM Resources, whose current dividend payout is $0.31, has an ex-dividend date set at October 30, 2020. The payout equates to a dividend yield of 3.08% at current price levels.
The Significance Of Ex-Dividend Dates
Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding PNM Resources's Dividend Payouts And Yields
Over the past year, PNM Resources has experienced an overall upward trend regarding its dividend payouts and yields. Last year on October 31, 2019 the company's payout was $0.29, which has since grown by $0.02. Similarly, PNM Resources's dividend yield in last year was 2.0%, which has since grown by 1.08%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
Click here to find details on PNM Resources's previous dividends.
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