MDU Resources Increases Common Stock Dividend for 19th Straight Year
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BISMARCK, N.D.--(Business Wire)-- The MDU Resources Group (NYSE: MDU) board of directors today increased the company`s quarterly common stock dividend to 15.75 cents per share, for an annualized dividend of 63 cents per share. The previous quarterly dividend was 15.5 cents per share. "We are very proud of our company`s record of returning value to shareholders," said Harry J. Pearce, chairman of the board. "This is the 19th consecutive year that we have increased the common stock dividend, and we have a 72-year unbroken record of consecutive dividend payments that stretches back to 1937. "Our diversified business strategy and aggressive cost management are providing strong cash flow and a healthy balance sheet, despite current economic conditions," Pearce said. The board of directors also declared dividends on preferred stock as follows: * $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, 2010 to stockholders of record Dec. 10, 2009. MDU Resources Group, Inc., a Fortune 500 company and 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, operating in three core lines of business: energy, utility resources and construction materials. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, electric and natural gas utilities, construction services, and construction materials and contracting. For more information about MDU Resources, see the company's Web site at www.mdu.com. MDU Resources Group Financial: Vernon A. Raile, 701-530-1003 Executive Vice President, Treasurer and Chief Financial Officer or Phyllis A. Rittenbach, 701-530-1057 Director of Investor Relations or Media: Rick Matteson, 701-530-1700 Director of Communications and Public Affairs or Laura Lueder, 701-530-1095 Corporate Public Relations Manager Copyright Business Wire 2009
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