Brief: Mdu Resources Plans To Spin Off Construction Services Business

Mdu Resources

02/11/2023 12:37

Nov 2 (Reuters) - MDU Resources Group Inc  MDU.N :
    * MDU RESOURCES PLANS TO SPIN OFF CONSTRUCTION SERVICES
BUSINESS
    * MDU RESOURCES GROUP INC: PLAN TO SPIN OFF COMPANY'S WHOLLY
OWNED
CONSTRUCTION SERVICES BUSINESS, MDU CONSTRUCTION SERVICES GROUP,
INC., TO SHAREHOLDERS
    * MDU RESOURCES GROUP INC: SPINOFF IS EXPECTED TO BE
EFFECTED AS A
TAX-FREE SPINOFF TO MDU RESOURCES AND ITS SHAREHOLDERS AND BE
COMPLETE IN LATE 2024
    * MDU RESOURCES GROUP INC: BOARD BELIEVES THIS SEPARATION
SHOULD
LEAVE EACH COMPANY WELL-CAPITALIZED AND STRONGLY POSITIONED TO
GROW
    * MDU RESOURCES GROUP INC: EXPECTS EARNINGS FROM ITS
REGULATED
ENERGY DELIVERY BUSINESSES IN RANGE OF $155 MILLION TO $165
MILLION FOR 2023
    * MDU RESOURCES GROUP INC: AFTER SPINOFF IS COMPLETE, MDU
RESOURCES WILL BE A PURE-PLAY REGULATED ENERGY DELIVERY BUSINESS
    * MDU RESOURCES: REGULATED ENERGY DELIVERY BUSINESSES
COMBINED
RATE BASE GROWTH IS EXPECTED TO BE 6%-7% ON A COMPOUNDED ANNUAL
BASIS OVER NEXT FIVE YEARS
    * MDU RESOURCES GROUP INC: INTENDS TO MAINTAIN A LONG-TERM
DIVIDEND PAYOUT RATIO TARGET OF 60% TO 70% OF REGULATED ENERGY
DELIVERY EARNINGS

Source text for Eikon:  ID:nPn40KP51a 
Further company coverage:  MDU.N 

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