MDU Resources Group, Inc. - MDU STOCK NEWS

WBI Energy, a subsidiary of MDU Resources Group (NYSE: MDU), received a certificate from FERC for the North Bakken Expansion project, which will increase natural gas transport capacity by 250 million cubic feet per day.

The $260 million project involves 62 miles of 24-inch and 20 miles of 12-inch pipelines in North Dakota and is projected to create up to 450 jobs during peak construction. Completion is expected by the end of the year, pending a notice to proceed from FERC within 30 days.

MDU Resources Group has been recognized in the 2021 Fortune 500, ranking No. 486, highlighting its status as one of the largest U.S. companies based on 2020 revenues. The company, headquartered in Bismarck, North Dakota, operates in 46 states with approximately 16,000 employees during peak construction. MDU's dual business model focuses on regulated energy delivery and construction materials, contributing to its growth and acclaim. President David L. Goodin emphasized the importance of their workforce in providing essential services.

MDU Resources Group has declared a quarterly dividend of 21.25 cents per share, consistent with the previous quarter. The dividend is scheduled for payment on July 1, 2021, to stockholders on record as of June 10, 2021. This decision reinforces MDU's position as a member of the S&P High-Yield Dividend Aristocrats index, highlighting its commitment to returning value to shareholders. For additional details, visit www.mdu.com.

MDU Resources Group, Inc. (NYSE: MDU) announced the election of Dale S. Rosenthal as an independent director during its annual shareholders' meeting on May 11, 2021. Rosenthal, 64, brings extensive experience from the construction industry, previously holding senior executive roles at Clark Construction Group. Board Chair Dennis W. Johnson emphasized her alignment with MDU's business needs and prior service on another public utility’s board. Rosenthal holds degrees from Harvard Law School and Cornell University.

MDU Resources Group reported Q1 2021 earnings of $52.1 million (26 cents per share), significantly up from $25.1 million (13 cents per share) in Q1 2020. The company experienced record earnings in its construction services and pipeline sectors, alongside increased natural gas sales volumes. MDU raised its 2021 EPS guidance to $2.00 to $2.15 amid expectations of robust demand driven by federal infrastructure funding. The construction materials segment reported a seasonal loss of $30.8 million, improving from $38.2 million last year.

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.