PNM declares preferred dividend

PNM declares preferred dividend

ALBUQUERQUE, N.M., September 16, 2004 (BUSINESS WIRE) — The board of directors of PNM, the principal subsidiary of PNM Resources has 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 Oct. 15, 2004, to shareholders of record at the close of business Oct. 1, 2004.

PNM Resources is an energy holding company based in Albuquerque, N.M. PNM, the principal subsidiary of PNM Resources, serves about 460,000 natural gas customers and 400,000 electric customers in New Mexico. The company also sells power on the wholesale market in the western United States. PNM Resources stock is traded primarily on the NYSE under the symbol PNM. For more information about our company, see our Web site at www.PNM.com

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