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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 will webcast its annual shareholder meeting on May 11, 2021, at 11 a.m. CDT from Bismarck, N.D.. Board Chair Dennis W. Johnson will host the meeting, which includes a business update from President and CEO David L. Goodin. Interested individuals can access more information and the webcast without preregistration at www.mdu.com/proxymaterials. MDU Resources is a member of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indices.
MDU Resources Group, Inc. (NYSE: MDU) is set to host a webcast of its first quarter 2021 earnings conference call on May 6. The financial results will be released prior to the call, which begins at 2 p.m. EDT. Investors can access the webcast at www.mdu.com. Audio replays will be available until May 20. MDU Resources is part of the S&P MidCap 400 and S&P High-Yield Dividend Aristocrats indexes, focused on delivering essential services through its energy and construction materials businesses.
Knife River Corporation has acquired Mt. Hood Rock, enhancing its position in the Portland metro area's aggregate market. This strategic move is part of Knife River's growth plan, providing an estimated 20 years of reserves and promoting vertical integration. The acquisition is expected to create operational efficiencies and drive growth immediately. President David C. Barney emphasized the company's record earnings and strong backlog, marking this as their ninth acquisition in three years, reflecting optimism for future performance.
MDU Resources Group's subsidiary, Knife River Corporation, has received a New Source Review permit from the Texas Commission on Environmental Quality. This permit enables Knife River to expand operations at its Honey Creek quarry, adding a third crusher, increasing throughput, and extending operational hours. The site, purchased in 2019, has a 40-year supply of aggregates and will see the addition of a rail-loading facility to ship materials to key Texas locations. These enhancements are expected to be operational in 2022, boosting capacity for internal and external supply.
MDU Resources Group announced a quarterly dividend of 21.25 cents per share, unchanged from the previous quarter. This dividend will be paid on April 1 to shareholders on record as of March 11. MDU Resources, listed on the NYSE under the symbol MDU, provides essential services through its regulated energy delivery and construction materials divisions.
MDU Resources Group reported a 16% increase in 2020 earnings to $390.2 million ($1.95 per share), up from $335.5 million ($1.69 per share) in 2019. The fourth quarter earnings were $112.3 million (56 cents per share), compared to $95.1 million (47 cents per share) in the previous year. The company's construction businesses achieved record earnings, supported by a robust backlog of work. For 2021, MDU anticipates earnings between $1.95 and $2.15 per share, with significant investments planned in its regulated energy and construction sectors.
MDU Resources Group, Inc. (NYSE: MDU) will host a webcast for its year-end 2020 earnings and 2021 guidance on Feb. 4, 2021, at 2 p.m. EST. The financial results will be released prior to the call, accessible via its website. Audio replays will be available until Feb. 18, with a conference ID for callers. MDU Resources is part of the S&P MidCap 400 and High-Yield Dividend Aristocrats indices, focusing on essential services in energy and construction. For further information, visit www.mdu.com.
Knife River Corporation announces an investment in Blue Planet Systems Corporation to develop a commercial process for creating synthetic limestone using sequestered carbon dioxide. This partnership aims to enhance construction-grade rock and concrete with a net-zero or negative carbon footprint. Knife River's expertise in construction aggregates will be instrumental as they scale Blue Planet's technology. This initiative promotes sustainability in concrete production while conserving natural aggregate resources. The collaboration is a proactive step towards reducing carbon emissions in infrastructure development.
MDU Resources Group announced the acquisition of McMurry Ready-Mix Co., expanding Knife River Corporation's footprint in Wyoming. The acquisition includes nearly 100 million tons of aggregate reserves and a ready-mix plant in Casper, enhancing operational capacity in central Wyoming. This marks Knife River's seventh acquisition in three years, indicating strong growth in the construction materials sector. MDU's CEO noted record earnings for Knife River in 2020, supporting the acquisition's strategic importance in driving future growth.
MDU Resources Group (NYSE: MDU) has revised its 2020 earnings per share (EPS) guidance, now projecting it to be between $1.92 and $2.02, up from the previous forecast of $1.80 to $1.90. This positive adjustment is attributed to robust operating results, favorable construction weather, and effective cost containment at its energy delivery companies. The company reported a strong construction backlog of $1.24 billion in construction services and $564 million for materials as of November 30, 2020, indicating continued momentum into 2021.