The MDU Resources Group (NYSE: MDU) board of directors today increased
the company’s quarterly common stock dividend to 17.25 cents per share,
for an annualized dividend of 69 cents per share. The previous quarterly
dividend was 16.75 cents per share.
This is the 22nd consecutive year that MDU Resources has
increased its common stock dividend. MDU Resources has paid dividends
for 75 consecutive years, stretching back to 1937.
“We are very proud of MDU Resources’ long record of delivering on our
commitment to shareholders, and to be among the small number of
companies that have produced such consistent results,” said Harry J.
Pearce, chairman of the board.
“Our diversified business strategy continues to demonstrate its value.
Our exploration and production business is on track to achieve its
increased oil production target, our utility business is experiencing
good growth, our pipeline business is expanding its midstream presence,
and our construction businesses are seeing encouraging signs of a market
upswing,” he said.
“Most important, we have the financial strength — a strong balance
sheet, and good liquidity and credit rating — to support continued
growth for shareholders,” Pearce said.
The board of directors also declared dividends on preferred stock as
$1.12-1/2 per share on 4.50 percent Series Preferred
$1.17-1/2 per share on 4.70 percent Series Preferred
$1.27-1/2 per share on 5.10 percent Series Preferred
The dividends are payable Jan. 1, 2013, to stockholders of record Dec.
MDU Resources Group, Inc., a member of the S&P MidCap 400 index,
provides value-added natural resource products and related services that
are essential to energy and transportation infrastructure, including
regulated utilities and pipelines, exploration and production, and
construction materials and services companies. For more information
about MDU Resources, see the company's website at www.mdu.com
or contact the Investor Relations Department at email@example.com.