BISMARCK, N.D., Aug. 15,
2024 /PRNewswire/ -- The board of directors of MDU
Resources Group, Inc. (NYSE: MDU) has increased the quarterly
dividend on the company's common stock to 13 cents per share,
for an annualized dividend of 52
cents per share. This represents a 4% increase over the
previous quarterly dividend of 12.5
cents per share. The board continues to target a long-term
dividend payout ratio of 60% to 70% of regulated energy
delivery earnings.
"MDU Resources remains committed to the transition to a
pure-play regulated energy delivery business, and the board
supports this evolution with a dividend policy that aligns with our
strategic goals," said Dennis W.
Johnson, chair of the board. "We have paid uninterrupted
dividends for 86 years, and our revised dividend reflects both our
disciplined investment strategy and our dedication to stockholder
returns."
The dividend is payable Oct. 1, 2024 to stockholders
of record Sept. 12, 2024.
Forward-Looking Statements
Information in this
release includes certain forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934. The
forward-looking statements in this release, including information
about the planned transition to a pure-play regulated energy
delivery company, and statements by MDU Resources' chair, are
expressed in good faith and are believed by the company to have a
reasonable basis. Nonetheless, actual results may differ materially
from the projected results expressed in the forward-looking
statements. For a discussion of important factors that could cause
actual results to differ materially, refer to Item 1A — Risk
Factors in MDU Resources' most recent Form 10-K and Form 10-Q and
subsequent filings with the SEC.
About MDU Resources
MDU Resources Group, Inc., a
member of the S&P MidCap 400 index, provides essential products
and services through its regulated energy delivery and construction
services businesses. Founded in 1924, the company is celebrating
its 100th anniversary; learn more at www.mdu.com/100th-anniversary.
For more information about MDU Resources, visit www.mdu.com or
contact the Investor Relations Department at
investor@mduresources.com.
Investor Contact: Brent
Miller, assistant treasurer, 701-530-1730
Media Contact: Byron Pfordte,
manager of integrated communications, 208-377-6050
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SOURCE MDU Resources Group, Inc.