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PNM Resources Inc | 4.58% 1965 Series Cumul Preferred Stock (PNMXO)
Prospectus excerpt: Public Service Co. of New Mexico, 4.58% 1965 Series, Cumulative Preferred Stock, stated value $100 per share, without sinking fund, redeemable any time at the issuer's option at $102.00 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 4.58% ($4.58) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. Public Serice Co. of New Mexico is a wholly-owned subsidiary of PNM Resources Inc. (NYSEL PNM). Full Prospectus PDF », Secondary Prospectus PDF », PNM Page »
Series: | 1965 | Redeemable?: | Yes | Call Date: | 5/1/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Liquidation Preference: | $100.00 | Original Coupon: | 4.58% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
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PNM Resources is a holding company. Through its regulated utilities, Co. provides electricity and electric services in New Mexico and Texas. Co.'s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). PNM is an electric utility that provides electric generation, transmission, and distribution service to its rate-regulated customers in area of north central New Mexico, including the cities of Albuquerque, Rio Rancho, and Santa Fe, and certain areas of southern New Mexico. TNMP is a regulated utility that provides transmission and distribution services in Texas under the provisions of TECA and the Texas Public Utility Regulatory Act. Preferred: PNMXO Open the PNM Information Page »
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