Here are the DEF 14A proxy statements from Black Hills Corporation (BKH) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A DEF 14A covers the proxy statement, with executive pay and the shareholder votes, so if you follow BKH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BKH filings page.
Black Hills Corporation is asking shareholders to vote at its virtual 2026 annual meeting on three items: electing three Class II directors (Scott M. Prochazka, Teresa A. Taylor and Anne G. Waleski), ratifying Deloitte & Touche LLP as auditor for 2026, and approving an advisory say‑on‑pay resolution.
The company highlights a planned all‑stock, tax‑free merger with NorthWestern Energy Group, Inc., under which NorthWestern holders would receive 0.98 Black Hills shares per NorthWestern share. After closing, Black Hills shareholders are expected to own about 56% and NorthWestern shareholders about 44% of the combined regulated utility.
Black Hills reports adjusted earnings per share of $4.10 for 2025, at the midpoint of its $4.00–$4.20 guidance. It completed a $450 million 4.55% senior notes offering due 2031, repaid $300 million of maturing notes, issued 3.8 million common shares for $220 million under an at‑the‑market program, modestly improved its debt‑to‑capitalization ratio, and increased its dividend for the 55th consecutive year. Sustainability goals include cutting electric utility emissions intensity 40% by 2030 and 70% by 2040 from 2005 levels and targeting net zero methane emissions by 2035 for its natural gas utilities.