MDU Resources Group Increases Quarterly Dividend
MDU Resources Group, Inc. (NYSE: MDU) has made an exciting announcement regarding its dividend policy. The company's board of directors has decided to increase the quarterly dividend on its common stock to 14 cents per share, amounting to an annualized dividend of 56 cents per share. This adjustment signifies a 7.7% rise from the previous quarterly dividend of 13 cents per share. MDU Resources remains committed to a long-term dividend payout ratio targeted between 60% to 70% of earnings.
Commitment to Shareholder Value
Chair of the board, Darrel T. Anderson, expressed pride in the company's 87-year history of uninterrupted dividend payments. "This decision underlines our dedication to consistently providing reliable and long-term value to our stockholders. Our policy of steadily growing dividends is a vital aspect of our return strategy and reflects our confidence in the company's robust business model," he stated.
Dividend Payment Details
The upcoming dividend is set to be paid on October 1 to stockholders of record as of September 11. This timely announcement and increase in dividends highlight the company's ongoing financial health and operational success.
Exploring MDU Resources Group, Inc.
MDU Resources Group, Inc. is a prominent player in the energy sector, recognized for its commitment to safe, reliable, and environmentally responsible services. Serving over 1.2 million customers across various regions, MDU is not just a utility provider but also plays a significant role in energy distribution through its extensive pipeline network, which spans more than 3,800 miles. This commitment to quality service has solidified its reputation as a trusted energy provider.
Utility Operations and Pipeline Services
The utility segment focuses on delivering electric and natural gas services to communities, ensuring they have access to affordable energy solutions. Concurrently, MDU's pipeline business underpins reliable energy delivery throughout the Northern Plains, reflecting the company's ambition to facilitate sustainable energy practices.
Long-Term Vision and Performance
MDU Resources has a rich legacy that stretches beyond a century, embodying a vision of energizing lives while prioritizing reliability and environmental stewardship. Their strategic planning and investments continue to pave the way for innovative solutions that benefit both their customers and stakeholders.
Investor Relations Contact
For inquiries related to investor relations, Brent Miller serves as the treasurer for MDU Resources Group, available at 701-530-1730. Media inquiries can be directed to Byron Pfordte, the director of integrated communications, at 208-377-6050.
Frequently Asked Questions
What was the new dividend announced by MDU Resources?
The quarterly dividend has been increased to 14 cents per share, marking a 7.7% increase from the previous amount.
When will the new dividend be paid?
The new dividend is scheduled to be paid on October 1 to stockholders of record as of September 11.
What is MDU Resources Group, Inc.'s commitment to shareholders?
MDU Resources is committed to providing long-term value to shareholders, evidenced by their history of steadily increasing dividends.
How does MDU Resources contribute to energy delivery?
MDU Resources operates a substantial natural gas pipeline network and provides electric and natural gas services to over 1.2 million customers.
Who can I contact for investor inquiries?
Inquiries can be directed to Brent Miller, treasurer of MDU Resources Group, at 701-530-1730.
