Welcome to our dedicated page for Black Hills news (Ticker: BKH), a resource for investors and traders seeking the latest updates and insights on Black Hills stock.
Black Hills Corporation reports developments for a regulated energy utility serving natural gas and electric customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. News about BKH commonly covers quarterly and annual earnings, common-stock dividend declarations, rate review applications, infrastructure investment recovery and utility operations across its gas and electric businesses.
Company updates also address board actions, shareholder matters, capital-structure activity and regulatory proceedings tied to service reliability, grid investment and customer costs.
Black Hills Corp. (NYSE: BKH) announced an agreement for a general rate increase via its Colorado utility, Black Hills Energy, aimed at enhancing safe and reliable natural gas services. The plan, awaiting final approval, could yield $6.49 million in additional annual revenues starting January 1, 2022. This follows over $150 million in investments since 2018 in its 7,000-mile pipeline system, which serves over 194,000 customers. These upgrades have improved resilience during extreme weather and reduced greenhouse gas emissions by a third since 2005.
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Black Hills Corp. (NYSE: BKH) announced a public debt offering of $600 million in senior unsecured notes with an interest rate of 1.037%, maturing on August 23, 2024. The offering includes an optional redemption provision effective from February 23, 2022. The company intends to utilize the proceeds to pay off a term loan related to costs from Winter Storm Uri, with any remaining funds allocated for general corporate purposes. Closing of the offering is expected on August 26, 2021.
Black Hills Corp. (NYSE: BKH) reported a strong financial performance for Q2 2021, with net income reaching $25.2 million ($0.40 EPS), up from $21.0 million ($0.33 EPS) in Q2 2020. The company's non-GAAP adjusted net income also rose to $25.2 million. Results were largely attributed to new rates and rider recovery from investments. Black Hills is investing over $3 billion through 2025 to support growing demand in its service areas. The company reaffirmed its 2021 EPS guidance between $3.80 and $4.00.
Black Hills Corp. (NYSE: BKH) announced a quarterly dividend of $0.565 per share, payable on Sept. 1, 2021, to shareholders of record by the close of business on Aug. 18, 2021.
The company will also disclose its second quarter earnings on Aug. 3, 2021, with a live conference call scheduled for Aug. 4, 2021, at 11 a.m. EDT. Investors can access the webcast through the company's website.
Black Hills Corp. (NYSE: BKH) will report its 2021 Q2 earnings on August 3, 2021, after market closure. A live conference call and webcast are scheduled for August 4, 2021, at 11 a.m. EDT to discuss the financial results. The company serves 1.3 million customers across eight states in the U.S. Interested participants can access the webcast via the company's website under the Investor Relations section. Call-in details for participants without internet access are also provided for the live broadcast.
Black Hills Corp. (NYSE: BKH) announced the filing of its 2021 Integrated Resource Plan (IRP) for its South Dakota and Wyoming Electric utilities. This comprehensive plan, shaped by extensive data analysis and stakeholder input, aims to meet long-term energy needs over a 20-year horizon while enhancing grid resilience and reliability. Key proposals include adding 100 megawatts of renewable generation, converting a coal plant to natural gas, and considering up to 20 megawatts of battery storage, all supporting a 70% reduction in greenhouse gas emissions by 2040.
Black Hills Corp. (NYSE: BKH) announced rate review applications for its natural gas utilities in Colorado and Iowa to recover investments in infrastructure. In Colorado, the request is for $14.6 million in annual revenue following $144 million in system upgrades. Iowa's application seeks $8.3 million after a $250 million investment over a decade. The company aims to implement new rates in early 2022, with a focus on safety and clean energy goals, while recent performance showcased the effectiveness of these investments during extreme weather conditions.
Black Hills Corp. has released its 2020 Community Impact Report, showcasing a commitment to community support amid unprecedented challenges. The company contributed $5.6 million to various non-profit partners and engaged employees in volunteer activities, with nearly 45% pledging $780,000 to local United Way organizations. In total, 1.3 million utility customers were served across eight states, with a direct economic impact of $1.4 billion.
Black Hills Corp. (NYSE: BKH) has filed a rate review application with the Kansas Corporation Commission, seeking an increase of $5.3 million in annual revenues. The utility has invested around $130 million in natural gas infrastructure over the past seven years to enhance safety and reliability, directly responding to demand issues during extreme weather conditions. Additionally, the company seeks renewal of its Gas System Reliability Surcharge, pivotal for maintaining investments. If approved, the new rates are expected in Q1 2022 and will shift approximately $4.9 million of rider revenue to base rates.