MDU Resources raises dividend for 27th consecutive year
The new annualized dividend rate for MDU is 79 cents per share. The previous quarterly dividend was 19.25 cents per share.
This is the 27th consecutive year that MDU Resources has increased its common stock dividend. Of the U.S.-listed, dividend-paying companies, fewer than 90 have increased their stock dividend as many consecutive years as MDU Resources.
"We are extremely proud that this is our 80th continuous year of paying dividends to our shareholders," said Harry J. Pearce, chair of the board. "This clearly demonstrates our commitment to providing value to our investors."
|Year-to-date MDU's stock price is down 6.1 percent @ $27.01
MDU Resources also is a member of the S&P High-Yield Dividend Aristocrats index, which measures the performance of companies within the S&P Composite 1500 that have followed a managed-dividends policy of consistently increasing dividends every year for at least 20 years.
The dividends are payable Jan. 1, 2018, to stockholders of record Dec. 14, 2017.
Last year MDU Resources raised its dividend for the 26th consecutive year.
MDU Resources Group, Inc. is engaged in regulated energy delivery and construction materials and services business. The electric segment generates, transmits and distributes electricity. The natural gas distribution segment distributes natural gas. The pipeline and midstream segment provides natural gas transportation, underground storage, processing and gathering services, as well as oil gathering. The construction materials and contracting segment mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mixed concrete, asphalt, liquid asphalt and other value-added products. The construction services segment provides utility construction services in constructing and maintaining electric and communication lines, and external lighting and traffic signalization.