Analyzing PNM Resources Ex-Dividend Date
On March 5, 2021, PNM Resources (NYSE:PNM) announced shareholders can expect to receive a dividend payable on May 14, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for PNM Resources is set for April 29, 2021. The company's current dividend payout sits at $0.33, equating to a dividend yield of 2.77% at current price levels.
The Significance Of Ex-Dividend Dates
Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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. Most ex-dividend dates operate on a quarterly basis.
PNM Resources's Dividend History
Over the past year, PNM Resources has experienced an overall upward trend regarding its dividend payouts and yields. Last year on April 30, 2020 the company's payout was $0.31, which has since grown by $0.02. Similarly, PNM Resources's dividend yield in last year was 2.24%, which has since grown by 0.53%.
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.
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