Welcome to our dedicated page for Mdu Resources news (Ticker: MDU), a resource for investors and traders seeking the latest updates and insights on Mdu Resources stock.
MDU Resources Group, Inc. (NYSE: MDU) generates a steady flow of news as a regulated energy delivery company with electric utility, natural gas distribution and pipeline operations. The company reports that it serves more than 1.2 million customers across the Pacific Northwest and Midwest and operates a multi-thousand-mile natural gas pipeline and storage network in the Northern Plains, which leads to frequent updates on infrastructure projects, regulatory proceedings and capital investment plans.
News about MDU Resources often covers quarterly and annual financial results, where the company discusses segment performance in its electric, natural gas distribution and pipeline businesses. These releases highlight drivers such as customer growth, rate recovery, operating and maintenance expenses and the impact of major projects. Investors following MDU news can track how regulatory decisions, weather patterns and capital deployment influence earnings and cash flows.
Another key theme in MDU Resources news is its long-term capital investment strategy. The company has announced a multi-year plan totaling approximately $3.4 billion for the 2026–2030 period, with spending allocated to electric system upgrades, natural gas system replacements and expansions, and pipeline expansion and maintenance projects. Related updates may include progress on specific projects such as wind generation investments, transmission lines and pipeline expansions.
Corporate and financing developments also appear in MDU Resources’ news flow. Examples include announcements of public offerings of common stock with forward components, new or amended credit agreements, and equity issuance plans to support capital expenditures. In addition, the company has issued news about corporate actions such as the spinoff of its construction services subsidiary into Everus Construction Group, Inc., which reflects its focus on becoming a pure-play regulated energy delivery business.
By monitoring MDU Resources news, investors and observers can follow updates on regulatory filings, dividend declarations, capital plans, infrastructure projects and corporate transactions that shape the company’s long-term profile. This page aggregates those items so readers can review the latest disclosures and historical announcements in one place.
Everus Construction Group, soon to be spun off from MDU Resources Group (NYSE: MDU), is hosting an investor and analyst day at the New York Stock Exchange today. The event will showcase the company's 4EVER strategic framework, investment highlights, operations, financial performance, and growth prospects.
Everus has reiterated its 2024 guidance, projecting revenue between $2.65 billion and $2.85 billion, and EBITDA ranging from $220 million to $240 million. The company expects higher margins compared to 2023.
The spinoff is scheduled for October 31, with Everus shares to be distributed to MDU stockholders of record on October 21. Everus will begin trading under the ticker symbol ECG on the NYSE on November 1.
Additionally, Everus has announced its Q3 2024 earnings conference call for November 7, with results to be released on November 6 after market close.
Knife River (NYSE: KNF), an aggregates-led, vertically integrated construction materials and contracting services company, has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Monday, November 4, 2024, at 11 a.m. EST. Financial results for the quarter will be released earlier that morning, before the NYSE market opens.
Investors and interested parties can access the live webcast of the call, along with presentation slides, through the Investors section of Knife River's website at investors.kniferiver.com or via https://events.q4inc.com/attendee/304447263. For those who wish to participate in the live conference call, domestic callers can dial 1-800-549-8228, while international callers should use 1-289-819-1520. The Conference ID for the call is 66729. An on-demand replay of the webcast will be made available after the conclusion of the call.
MDU Resources Group, Inc. (NYSE: MDU) has announced plans to webcast its third quarter 2024 earnings conference call on November 7 at 2 p.m. ET. The company will release its third quarter results before U.S. financial markets open on the same day. Investors and interested parties can access the webcast through the company's website at www.mdu.com under the "Investors" heading. To join the call, participants should select "Events & Presentations" and click on "Q3 2024 Earnings Conference Call." A replay of the webcast will be available at the same location after the call concludes.
MDU Resources Group, Inc. (NYSE: MDU) has announced that its board of directors has approved the spinoff of its wholly owned construction services subsidiary, Everus Construction Group. The spinoff will be executed through a pro rata distribution of all outstanding shares of Everus common stock to MDU Resources stockholders. Each MDU Resources stockholder will receive one share of Everus common stock for every four shares of MDU Resources common stock owned as of the record date.
The distribution is expected to occur at 11:59 p.m. EDT Oct. 31, 2024, with a record date of 5 p.m. EDT on Oct. 21, 2024. The spinoff is subject to certain conditions, including SEC approval. The distribution is expected to be tax-free for U.S. federal income tax purposes, except for cash received in lieu of fractional shares. Everus common stock is anticipated to begin trading on the NYSE under the ticker symbol 'ECG' on or about Nov. 1, 2024.
MDU Resources Group (NYSE: MDU) has appointed Anthony D. Foti as its new chief legal officer and corporate secretary, effective October 7. Foti, who previously served as senior vice president, deputy general counsel, and corporate secretary at Foot Locker, Inc., brings extensive experience in corporate governance, securities regulation, and strategic legal operations. He will report directly to MDU Resources president and CEO, Nicole Kivisto.
Foti replaces Paul R. Sanderson, who was previously announced as vice president, chief legal officer and secretary at Everus Construction Group. With a distinguished legal career, including experience in regulated energy delivery businesses, Foti expressed excitement about joining MDU Resources during its focus on pure play regulated energy delivery businesses. He holds a Juris Doctor from Villanova University and a Bachelor of Science in finance from The Pennsylvania State University.
MDU Resources Group (NYSE: MDU) has announced the retirement of Peggy Link, vice president and chief information officer, effective Jan. 10, 2025. Dyke Boese, currently director of enterprise infrastructure and operations, will succeed Link. Link joined MDU Resources in 2005 and has been instrumental in overseeing IT functions and advancing cyber-readiness capabilities. Boese, with over 25 years of experience, will take on the role of CIO. He holds an MBA and serves on the board of the Technology Council of North Dakota.
MDU Resources, celebrating its 100th anniversary, is a member of the S&P MidCap 400 index and provides essential products and services through regulated energy delivery and construction services businesses.
MDU Resources Group, Inc. (NYSE: MDU) has announced that its construction services subsidiary, Everus Construction Group, will be listed on the NYSE under the ticker symbol ECG following its planned spinoff in late 2024. The company has filed a Form 10 registration statement with the SEC. MDU stockholders will receive one share of ECG for every four shares of MDU stock held, with fractional shares sold and proceeds distributed in cash. The spinoff is expected to be tax-free for U.S. federal income tax purposes.
Everus will hold an Investor Day on October 17, 2024, at the NYSE to present investment highlights, operations, financial performance, and growth prospects. The event will be webcast. This move is part of MDU Resources' strategy to become a pure-play regulated energy delivery business, providing stockholders with two distinct investment opportunities.
MDU Resources Group, Inc. (NYSE: MDU) has announced the anticipated board of directors for Everus Construction Group, set to become effective upon the completion of the planned spinoff of its construction services subsidiary. The spinoff, expected to be finalized in late 2024, will result in Everus becoming an independent, publicly traded company. The post-spinoff board is anticipated to consist of seven directors, including six independent members.
Four directors are expected to transition from MDU Resources' board to Everus, including Dale S. Rosenthal as the anticipated chair. Three new directors are also slated to join. This move is part of MDU Resources' strategy to become a pure-play regulated energy delivery business, aiming to optimize shareholder value. The spinoff is subject to final approval and is expected to be tax-free for MDU Resources and its stockholders for federal income tax purposes.
MDU Resources Group (NYSE: MDU) has appointed Michael S. Della Rocca and Marian M. Durkin to its board of directors. Della Rocca brings 35 years of experience in engineering and construction, including executive roles at AECOM and McKinsey & Company. Durkin previously served as senior VP, general counsel, and chief compliance officer at Avista , an electric and natural gas utility.
The appointments come as MDU Resources prepares to become a pure-play regulated energy delivery business by spinning off its construction services subsidiary, Everus Construction Group, later this year. Board Chair Dennis W. Johnson stated that the new directors' experience will support MDU's strategic initiatives during this transition.
MDU Resources Group, Inc. (NYSE: MDU) has increased its quarterly dividend to 13 cents per share, representing a 4% increase from the previous 12.5 cents. This results in an annualized dividend of 52 cents per share. The board aims for a long-term dividend payout ratio of 60% to 70% of regulated energy delivery earnings. The dividend is payable on October 1, 2024, to stockholders of record as of September 12, 2024. MDU Resources has maintained uninterrupted dividends for 86 years. The company is transitioning to a pure-play regulated energy delivery business, and the revised dividend aligns with this strategic goal while demonstrating commitment to stockholder returns.