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MDU Resources Group, Inc. reports developments for a regulated energy delivery business built around electric utility service, natural gas distribution and pipeline operations. Its utility operations provide electric and gas service across parts of the Pacific Northwest, Midwest, Rocky Mountain and northern Great Plains, while its pipeline business operates a natural gas transportation and storage network.
Recurring news includes quarterly earnings, weather effects on utility demand, capital-investment plans, common-stock dividend actions and updates from the pipeline segment. Company releases also address financing capacity and project planning tied to energy delivery infrastructure.
MDU Resources Group, Inc. (NYSE: MDU) will host a webcast for its first quarter 2022 earnings call on May 5, following the release of financial results. The call is set to begin at 2 p.m. EDT and will be available on their website, www.mdu.com. Audio replays can be accessed through May 19. MDU Resources is recognized as a Fortune 500 company and is part of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indices, focusing on essential products and services in energy and construction.
MDU Resources Group, Inc. (NYSE: MDU) has declared a quarterly dividend of 21.75 cents per share, remaining unchanged from the previous quarter. This dividend is scheduled for payment on April 1, 2022, to shareholders of record by March 10, 2022. MDU Resources is recognized as a Fortune 500 company and is involved in the regulated energy delivery and construction materials sectors, contributing significantly to the country's infrastructure. For further information, visit www.mdu.com.
MDU Resources Group reported earnings of $378.1 million or $1.87 per share for 2021, a decrease from $390.2 million or $1.95 per share in 2020. Q4 earnings were $86.5 million, down 23% year-over-year. Despite lower earnings, the company achieved its third-best annual earnings in history, with strong construction backlog at $2.1 billion. MDU forecasts 2022 earnings of $2.00 to $2.15 per share. Key growth areas include natural gas projects and infrastructure funding from the $1.2 trillion Infrastructure Act.
On February 1, 2022, WBI Energy, a subsidiary of MDU Resources Group (NYSE: MDU), launched the North Bakken Expansion project, enabling the transport of 250 million cubic feet of natural gas daily from North Dakota’s Bakken region. The project can potentially double capacity to 625 million cubic feet with additional compression. It involved constructing 100 miles of pipeline, including a significant 15,426-foot horizontal drill under Lake Sakakawea. The project was completed two months ahead of schedule despite initial regulatory delays.
MDU Resources Group will host a webcast on Feb. 10, 2022, to discuss its year-end 2021 earnings and provide 2022 guidance. The call will start at 2 p.m. EDT and will be available on www.mdu.com. Audio replays will be accessible until Feb. 24, 2022, via designated phone lines. MDU Resources is a Fortune 500 company engaged in energy delivery and construction materials, and is part of the S&P MidCap 400 and High-Yield Dividend Aristocrats indices.
MDU Resources Group (NYSE: MDU) has announced a capital investment plan of $3.0 billion for 2022-2026. This initiative aims to foster organic growth through infrastructure improvements and enhance grid reliability. Key projects include the construction of the Heskett Station Unit IV and various pipeline expansions to boost capacity. The company anticipates a 5% annual growth in its utility rate base. MDU also aims to capitalize on public infrastructure spending through construction materials and services, supported by recent federal funding initiatives.
Knife River Corporation has acquired Baker Rock Resources and Oregon Mainline Paving, enhancing its operations in the Pacific Northwest. Baker Rock brings 83-88 million tons of construction aggregates, vital for growth in the Portland area, while Oregon Mainline strengthens Knife River's paving capabilities. This strategic investment adds approximately 230 employees and solidifies Knife River's position in lucrative markets. MDU Resources Group, parent company of Knife River, emphasizes the importance of these acquisitions in meeting rising demand for construction aggregates.
MDU Resources Group, Inc. (NYSE: MDU) has increased its quarterly common stock dividend to 21.75 cents per share, amounting to an annualized 87 cents per share. This marks the 31st consecutive year of dividend increases, with the previous quarter being 21.25 cents. The new dividend is payable on January 1, 2022, to stockholders of record as of December 9, 2021. MDU has maintained uninterrupted dividend payments for 84 years and is part of the S&P High-Yield Dividend Aristocrats index.
MDU Resources Group (NYSE: MDU) reported third quarter earnings of $139.3 million or 68 cents per share, down from $153.1 million or 76 cents per share in the same quarter of 2020. For the first nine months of 2021, earnings reached $291.6 million, an increase from $277.9 million in 2020. The company adjusted its EPS guidance for the year to $1.90 to $2.05 due to challenges in the construction sector. As of Sept. 30, the construction backlog stood at $1.92 billion, a 3% increase year-over-year.
MDU Resources Group, Inc. (NYSE: MDU) will host a webcast for its third quarter 2021 earnings conference call on Nov. 4, following the release of financial results. The call will begin at 2 p.m. EDT and will be accessible via www.mdu.com. Audio replays will be available until Nov. 18. MDU Resources, part of the S&P MidCap 400, provides essential products and services through its regulated energy and construction materials segments.