MDU Resources Group, Inc. (NYSE:MDU) Announces Dividend Increase – $0.14 Per Share

MDU Resources Group, Inc. (NYSE:MDU) declared a quarterly dividend on Thursday, August 13th. Investors of record on Thursday, September 10th will be paid a dividend of 0.145 per share by the utilities provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, September 10th. This is a 3.6% increase from MDU Resources Group’s previous quarterly dividend of $0.14.

MDU Resources Group has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. MDU Resources Group has a payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect MDU Resources Group to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 52.8%.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $20.30 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.88. MDU Resources Group has a fifty-two week low of $15.76 and a fifty-two week high of $22.98. The business has a 50 day moving average price of $20.89 and a two-hundred day moving average price of $21.10. The firm has a market cap of $4.16 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.67.

Institutional Investors Weigh In On MDU Resources Group

Institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in MDU Resources Group during the fourth quarter worth about $27,000. Geneos Wealth Management Inc. boosted its stake in MDU Resources Group by 94.5% in the second quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 800 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in MDU Resources Group by 6,404.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,496 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 1,473 shares during the period. Global Retirement Partners LLC grew its holdings in shares of MDU Resources Group by 13,185.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,860 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of MDU Resources Group during the second quarter valued at approximately $39,000. Institutional investors own 71.44% of the company’s stock.

About MDU Resources Group

MDU Resources Group, Inc is a diversified energy and services holding company headquartered in Bismarck, North Dakota. The company operates through two primary segments: Utilities and Construction Services and Pipelines & Midstream. Serving a broad geographic footprint across the upper Midwest and Pacific Northwest, MDU provides essential energy distribution and infrastructure services to residential, commercial and industrial customers.

The Utilities segment delivers electric and natural gas distribution services in Montana, North Dakota, South Dakota, Minnesota, Kansas, Wisconsin, Michigan and Washington.