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MDU Resources Group, Inc. - MDU STOCK NEWS

Welcome to our dedicated page for MDU Resources Group news (Ticker: MDU), a resource for investors and traders seeking the latest updates and insights on MDU Resources Group stock.

MDU Resources Group, Inc. (NYSE: MDU) is a diversified energy and infrastructure company that plays a vital role in the U.S. economy. Founded in 1924, the company started as a small electric utility serving rural communities in Montana and North Dakota. Today, MDU Resources is a multibillion-dollar corporation providing essential products and services that support energy and transportation infrastructure across the country.

The company operates in five key segments:

  • Electric: Generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
  • Natural Gas Distribution: Distributes natural gas in the above states as well as Idaho, Minnesota, Oregon, and Washington.
  • Pipeline: Offers natural gas transportation and underground storage services through a regulated pipeline system in the Rocky Mountain and Northern Great Plains regions of the U.S.
  • Construction Services: Provides a broad range of construction services through its electrical, mechanical, and transmission and distribution specialty contracting services.
  • Everus Construction Group: Recently rebranded and expected to spin off as an independent company, offering a full spectrum of construction services across the U.S.

MDU Resources is committed to delivering value-added natural resource products and related services that are vital to energy and transportation infrastructure. Some of the company's recent achievements include:

  • Approval of the Wahpeton Expansion project by the Federal Energy Regulatory Commission, allowing for the construction and operation of a natural gas pipeline expansion in eastern North Dakota.
  • Completion of a strategic plan to spin off MDU Construction Services Group, Inc., rebranded as Everus Construction Group, to create two independent, publicly traded companies.
  • Record earnings from its pipeline and construction services businesses, demonstrating robust growth and performance.

The company's financial condition remains strong, with strategic investments in infrastructure modernization and expansion projects. MDU Resources is poised for continued growth as a pure-play regulated energy delivery business post-spinoff, focusing on providing reliable, affordable services to its 1.2 million customers.

MDU Resources Group, Inc. is a member of the S&P MidCap 400 Index and continues to leverage its nearly century-long legacy of reliable service, innovation, and community commitment to drive shareholder value and economic growth.

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MDU Resources Group, Inc. (NYSE: MDU) has announced the leadership team for Everus Construction Group, its construction services subsidiary, ahead of its anticipated spinoff in late 2024. Jeffrey S. Thiede will remain as president and CEO, while new appointments include Thomas D. Nosbusch as COO, Maximillian J. Marcy as CFO, and Paul R. Sanderson as chief legal officer. The spinoff is expected to be a tax-free transaction for MDU Resources shareholders.

This strategic move will transform MDU Resources into a pure-play regulated energy delivery business, while Everus will become an independent, publicly traded company. The decision is aimed at optimizing shareholder value, capitalizing on Everus' strong performance and favorable industry conditions.

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MDU Resources Group, Inc. (NYSE: MDU) has announced plans to webcast its second quarter 2024 earnings conference call on August 8, 2024, at 2 p.m. EDT. The company will release its Q2 results before U.S. financial markets open on the same day. Investors can access the webcast through the company's website at www.mdu.com under the 'Investors' section. After navigating to 'Events & Presentations,' users can click on 'Q2 2024 Earnings Conference Call' to join. A replay of the webcast will be available at the same location after the call concludes.

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MDU Resources Group, listed on the NYSE as MDU, has published its 2023 Sustainability Report, marking its 100th year in business as of March 14, 2024. The report highlights significant achievements, including an 11% reduction in methane emissions from its natural gas utility segment compared to 2022 and a 38% reduction in electric generation greenhouse gas emissions intensity since 2005. The company is on track to spin off its construction services business, Everus Construction Group, by late 2024. Nicole A. Kivisto, president and CEO, emphasized MDU Resources' commitment to balancing economic, environmental, and social considerations to ensure reliable and cost-effective services for customers.

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MDU Resources announced a quarterly dividend of 12.5 cents per share, consistent with the previous quarter's dividend. The payout will occur on July 1, 2024, for shareholders on record as of June 13, 2024. This decision reflects the company's ongoing commitment to returning value to its shareholders.

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On May 14, 2024, MDU Resources Group shareholders elected Douglas W. Jaeger as a new independent director to the company's board. With over 27 years of industry experience, Jaeger is currently the president and CEO of Ulteig and has held senior leadership roles at Adolfson & Peterson, Xcel Energy, and Exelon Corp. His expertise aligns with MDU's energy delivery and construction services businesses. Jaeger also serves on the boards of Ulteig, Amsoil, and Computype, along with the non-profit Great Plains Institute. He holds an MBA from the University of St. Thomas and a bachelor's degree from St. John's University.

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MDU Resources Group, Inc. reported strong first-quarter results with record earnings across its utility, pipeline, and construction services businesses. Notably, the regulated pipeline business saw an 82% earnings increase, while the utility earnings were up by 4%. Everus reported an 8% increase in earnings with record EBITDA and backlog. The company affirmed its 2024 guidance, including regulated energy delivery earnings of $170-180 million and Everus revenues of $2.9-3.1 billion.

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MDU Resources Group, Inc. (MDU) will webcast its first quarter 2024 earnings conference call on May 2, 2024, before the U.S. financial markets open. Investors can access the webcast on www.mdu.com under the 'Investors' heading. A replay will be available after the webcast.
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MDU Resources Group, Inc. plans to spin off its construction services business, Everus Construction Group, with a confidential draft registration statement submitted to the SEC. The spinoff is expected to be completed in Q4 2024, allowing MDU Resources to focus on its regulated energy delivery business.
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MDU Resources Group, Inc. rebrands its construction services business to Everus Construction Group, Inc. in preparation for a planned tax-free spinoff. The spinoff aims to create two independent, publicly traded companies, with the process expected to be completed late this year. Nicole A. Kivisto, CEO of MDU Resources, highlights the rebranding as a strategic move to enhance shareholder value and enable focused growth opportunities.
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MDU Resources Group, Inc. affirms 2024 financial guidance and updates long-term earnings per share growth rate outlook. The company expects earnings from regulated energy delivery and construction services revenues to remain strong. MDU Resources plans a tax-free spinoff of its construction services business in late 2024.
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FAQ

What are the core businesses of MDU Resources Group, Inc.?

MDU Resources operates in five segments: Electric, Natural Gas Distribution, Pipeline, Construction Services, and Everus Construction Group.

What recent projects has MDU Resources Group, Inc. undertaken?

Recent projects include the Wahpeton Expansion project, which involves constructing a natural gas pipeline expansion in eastern North Dakota.

What is the significance of the planned spinoff of Everus Construction Group?

The spinoff aims to create two independent, publicly traded companies, allowing MDU Resources to focus on being a pure-play regulated energy delivery business.

What regions does MDU Resources serve?

MDU Resources serves customers in Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, and Washington.

What is the historical background of MDU Resources Group, Inc.?

MDU Resources was founded in 1924 as a small electric utility serving rural communities in Montana and North Dakota. It has since grown into a multibillion-dollar corporation.

How does MDU Resources contribute to infrastructure development?

MDU Resources provides essential products and services that support energy and transportation infrastructure, including electricity, natural gas, and construction services.

What is the financial outlook for MDU Resources?

MDU Resources has a strong financial condition, with strategic investments in infrastructure projects and a focus on sustainable growth and shareholder value.

What is the status of the Heskett Unit IV project?

The Heskett Unit IV, an 88-megawatt natural gas-fired electric generating facility, is expected to be online in the second quarter.

How does MDU Resources ensure reliability in its services?

MDU Resources continually invests in modernizing its infrastructure and expanding its regulated pipeline system to provide reliable services to its customers.

Where can I find more information about MDU Resources?

For more information, visit www.mdu.com or contact the Investor Relations Department at investor@mduresources.com.

MDU Resources Group, Inc.

NYSE:MDU

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5.33B
203.89M
0.63%
75.06%
1.09%
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