BISMARCK, N.D., Nov. 17, 2016 /PRNewswire/ -- The MDU Resources Group (NYSE: MDU) board of directors today increased the company's quarterly common stock dividend to 19.25 cents per share, for an annualized dividend of 77 cents per share. The previous quarterly dividend was 18.75 cents per share.
This is the 26th consecutive year that MDU Resources has increased its common stock dividend. Of the more than 2,400 other U.S.-listed, dividend-paying companies, fewer than 100 have increased their stock dividend as many consecutive years as MDU Resources.
"This is our 79th continuous year of paying dividends to our shareholders, and we are very proud of that long tradition," said Harry J. Pearce, chairman of the board. "Our commitment to providing value to our shareholders, including increasing our dividend, is reflected in our membership in the S&P High-Yield Dividend Aristocrats index."
The S&P High-Yield Dividend Aristocrats index is designed to measure 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.
MDU Resources' dividends for preferred stock are:
$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, 2017, to stockholders of record Dec. 8, 2016.
MDU Resources Group, Inc., a member of the S&P MidCap 400 index and the S&P High-Yield Dividend Aristocrats index, provides essential products and services through its regulated energy delivery and construction materials and services businesses. For more information about MDU Resources, see the company's website at www.mdu.com or contact the Investor Relations Department at [email protected].
Financial Contact: Janelle Steiner, assistant treasurer, 701-530-1031 Media Contact: Laura Lueder, manager of communications and public affairs, 701-530-1095