MDU Resources Group, Inc. - MDU STOCK NEWS

MDU Resources Group reported a 16% increase in 2020 earnings to $390.2 million ($1.95 per share), up from $335.5 million ($1.69 per share) in 2019. The fourth quarter earnings were $112.3 million (56 cents per share), compared to $95.1 million (47 cents per share) in the previous year. The company's construction businesses achieved record earnings, supported by a robust backlog of work. For 2021, MDU anticipates earnings between $1.95 and $2.15 per share, with significant investments planned in its regulated energy and construction sectors.

MDU Resources Group, Inc. (NYSE: MDU) will host a webcast for its year-end 2020 earnings and 2021 guidance on Feb. 4, 2021, at 2 p.m. EST. The financial results will be released prior to the call, accessible via its website. Audio replays will be available until Feb. 18, with a conference ID for callers. MDU Resources is part of the S&P MidCap 400 and High-Yield Dividend Aristocrats indices, focusing on essential services in energy and construction. For further information, visit www.mdu.com.

Knife River Corporation announces an investment in Blue Planet Systems Corporation to develop a commercial process for creating synthetic limestone using sequestered carbon dioxide. This partnership aims to enhance construction-grade rock and concrete with a net-zero or negative carbon footprint. Knife River's expertise in construction aggregates will be instrumental as they scale Blue Planet's technology. This initiative promotes sustainability in concrete production while conserving natural aggregate resources. The collaboration is a proactive step towards reducing carbon emissions in infrastructure development.

MDU Resources Group announced the acquisition of McMurry Ready-Mix Co., expanding Knife River Corporation's footprint in Wyoming. The acquisition includes nearly 100 million tons of aggregate reserves and a ready-mix plant in Casper, enhancing operational capacity in central Wyoming. This marks Knife River's seventh acquisition in three years, indicating strong growth in the construction materials sector. MDU's CEO noted record earnings for Knife River in 2020, supporting the acquisition's strategic importance in driving future growth.

MDU Resources Group (NYSE: MDU) has revised its 2020 earnings per share (EPS) guidance, now projecting it to be between $1.92 and $2.02, up from the previous forecast of $1.80 to $1.90. This positive adjustment is attributed to robust operating results, favorable construction weather, and effective cost containment at its energy delivery companies. The company reported a strong construction backlog of $1.24 billion in construction services and $564 million for materials as of November 30, 2020, indicating continued momentum into 2021.

MDU Resources Group, Inc. (NYSE: MDU) announced a capital investment plan exceeding $3.0 billion for 2021-2025. The investment reflects the company's commitment to organic growth across its diverse business segments, including regulated energy delivery and construction materials. MDU expects annual growth in its utility operations and plans to develop several projects, including a natural gas-fired plant and pipeline expansions. The company will continuously review and may adjust its capital expenditure forecasts based on regulatory decisions and market conditions.

MDU Resources Group has promoted Dustin J. Senger to treasurer, effective Nov. 23. Previously the assistant treasurer, Senger succeeded Jason L. Vollmer, who continues as vice president and chief financial officer. Senger has been with MDU since 2006 and holds degrees in accounting and business administration from the University of North Dakota. His tenure includes 14 years in the Treasury team, demonstrating leadership and building relationships with stakeholders.

MDU Resources Group has announced the appointment of Karl A. Liepitz as vice president, general counsel, and secretary, effective February 6, 2021. He succeeds Daniel S. Kuntz, who will retire on February 5 after 17 years of service. Liepitz, who joined MDU Resources in 2003, has held various positions, including assistant general counsel since 2016. The transition highlights MDU's commitment to integrity and leadership in its legal team. Kuntz's tenure saw significant corporate governance achievements and strategic acquisitions.

MDU Resources Group, Inc. (NYSE: MDU) has raised its quarterly common stock dividend to 21.25 cents per share, marking the 30th consecutive year of dividend increases. The annualized dividend now stands at 85 cents per share, up from 20.75 cents previously. MDU has maintained uninterrupted dividends for 83 years, positioning it among fewer than 85 U.S. companies with a similar track record. The next dividend is payable on Jan. 1, 2021 to shareholders on record as of Dec. 10, 2020.