Why isnt there a shareholder vote? Some of the competitors of MDU Resources are Portland General Electric, The Williams Companies, and Peabody Energy. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. 400 N. Fourth St. MDU Construction Services Group provides a full spectrum of construction solutions, from underground utilities and excavation to electrical, mechanical and fire suppression systems as well as transmission and distribution line construction. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. The company's common stock began trading on the New York Stock Exchange under the ticker symbol MDU in 1948. MDU Resources expects the spinoff of Knife River will be complete in the second quarter of 2023. As of December 31, 2017, it served 142,901 residential, commercial, industrial, and municipal customers in 178 communities and adjacent rural areas. Claiming and updating your company profile on Zippia is free and easy. MDU Resources Group, Inc., a member of the S&P MidCap 400 and the S&P High-Yield Dividend Aristocrats indices, is Building a Strong America by providing essential products and services through its regulated energy delivery and construction materials and services businesses. Enhances MDU Resources strategic focus on regulated utilities, natural gas pipelines and related infrastructure services. What approvals are required? It has an unusually high proportion of employees who are members of the Republican Party, at 73.0%. It does not store any personal data. Compelling Benefits of the Separation The separation will result in two independent, publicly traded and well capitalized companies, which the MDU Resources board believes will leave each positioned well for durable growth and shareholder value creation. Intermountain is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". In addition, all pages on Bizapedia will be
Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, MDU Resources Board of Directors Names Leadership for Knife River Upon Separation, MDU Resources Declares Quarterly Dividend on Common Stock. Statement of Changes in Beneficial Ownership. ESI, Inc. honored with industry Safety Achievement Award for outstanding injury and illness statistics ESI, Inc. is headquartered in Cincinnati, Ohio, with locations in Dayton, Cleveland and Columbus. Rebecca works for Mdu Resources Group Inc. Rebecca Dorwart has been with Mdu Resources Group Inc. for 6 months and is in Lower Management, Rebecca's role is Manager: Project Manager, Human Resources Special Projects Manager. Employees at the parent company, MDU Resources, earn $52,489 whereas employees at Young Brothers Inc Contractors earn $51,612, on average. It generated $169 million of EBITDA in 2021. Cascade is a subsidiary of MDU Resources Group, Inc., a multidimensional natural resources enterprise traded on the New York Stock Exchange as "MDU.". Brea, CA. Who is MDU Resources Group Headquarters 1200 W Century Ave, Bismarck, North Dakota, 58503, United States Phone Number (701) 530-1000 Website www.mdu.com Revenue $5.9B Stock Symbol MDU Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment MDU Resources Group's Social Media Is this data correct? Changes in such assumptions and factors could cause actual future results to differ materially. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. MDU Construction Services Group employs more than 7,500 skilled employees across the country. These cookies will be stored in your browser only with your consent. As it expanded across Eastern Montana and western North Dakota, it acquired the electric franchise for Miles City, Montana, after an acquisition struggle with the Montana Power Company.[3]. Select Year: Filter filing type: Date Filing Type Filing Description Download / View. Referrals increase your chances of interviewing at Mercury Insurance by 2x. Fax: 701-323-3104. After the end of the lawsuit, MDU refocused on the growing demand for electricity and gas within its newly expanded territory and the necessary system improvements. With our nations focus on infrastructure, the recent passage of the Investment in Infrastructure and Jobs Act will provide federal funding to support the type of public and private work Knife River does. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. MDU Resources company charter does not require a shareholder vote to complete the transaction. The actual number of shares to be distributed to MDU Resources shareholders will be determined prior to closing, as will the specific transaction structure. MDU Resources expects approximately 70% of its pro forma EBITDA to be generated from its regulated businesses, providing low-risk, stable returns to shareholders. You will love working at Western! The company was founded in 1924 and is based in Bismarck, North Dakota. Zippia gives an in-depth look into the details of MDU Resources, including salaries, political affiliations, employee data, and more, in order to inform job seekers about MDU Resources. How did this transaction come about? 79 were here. We expect this distribution to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. Based on our data team's research, David L. Goodin is the MDU Resources's CEO. MDU Resources is in the electric power natural gas construction industry. We are sorry, but your computer or network may be sending automated queries. These cookies track visitors across websites and collect information to provide customized ads. This is a growing company where the executive leadership really focuses on a work/life balance. Denver CO. An upstream oil and gas company part of the MDU Resources Group family of companies. MDU Resources and Knife Rivers proven management teams will be able to more directly focus resources and capital to achieve their respective strategic goals, Goodin said. Knife River generated $293 million of EBITDA in 2021. MDU Construction Services Group has resources across the country to get any job done. About Knife River BISMARCK, N.D., Aug. 4, 2022 /PRNewswire/ MDU Resources Group, Inc. (NYSE: MDU) today announced that its board of directors has unanimously approved a plan to separate its wholly owned construction materials business, Knife River Corporation, from the company. We provide industry leading services with a focus on safety. Project Managers are responsible for planning, implementing, and managing projects. MDU Resources has 10,140 employees, of which 24 are in a leadership position. The Company's Electric segment generates, transmits, and distributes electricity. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. For more information about MDU Resources, visitwww.mdu.comor contact the Investor Relations Department at[emailprotected]. The distribution systems in these towns passed into MDU ownership by the early 1940s. MDU Resources Group, Inc. engages in regulated energy delivery, and construction materials and services businesses in the United States. MDU Resources Reports Third Quarter Earnings; Knife River Has Record Quarterly Revenue. Knife Rivers dividend policy will be determined in the future in a manner consistent with its stated capital allocation strategies. Full-Time. Selecting the value will change the page content. This website uses cookies to improve your experience while you navigate through the website. You can save your resume and apply to jobs in minutes on LinkedIn, Head of Sales - Clinical Screening Software Solutions & Partnerships, Ban Mu Thi 10 Moo 10, Pathum Thani, Thailand, Audio QA Checker (Suouth Levantine Arabic Speakers) in Palestine, Voice of Customer and Offering Excellence Lead , CrossLab Services Center of Excellence, Manager, Transition Management Onboarding, See who Mercury Insurance has hired for this role, Assist in process documentation/workflows and apply knowledge to analyze business and system procedures/workflow/data and recommend how they can be improved or automated, Assist in debugging production issues and performing User Acceptance Testing for Product/Rate Level changes across different platforms, Assist with implementation, training, and monitoring of product rollout, Work with cross-functional teams as the representative of the Product group. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. The Oregon Public Utility Commission faulted MDU subsidiary[4][5] Loy Clark for the 2016 Portland gas explosion that leveled a building, sent asbestos fragments flying, damaged numerous buildings and injured eight people. MDU Resources Group, Inc. All rights reserved. We expect this transaction to create significant value for our shareholders and believe it will enable us to achieve attractive shareholder returns at both companies, Goodin said. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies may capture identifiers such as internet protocol addresses and internet or other electronic network activity information. Terry Hildestad donated MDU Resources has retained J.P. Morgan Securities LLC and PJT Partners as financial advisors and Wachtell, Lipton, Rosen & Katz as legal advisor for the review. MDU Resources expects there will be no changes to its historic dividend practices through the completion of the spinoff. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. MDU Resources is committed to establishing strong capital allocation strategies for each business that align with each businesss long-term goals. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. MDU Resources will discuss todays separation announcement as well as its second quarter results during a webcast at 8:30 a.m. EDT Aug. 4, 2022. With the spinoff, it is expected that MDU Resources shareholders will retain their current shares of MDU Resources stock and receive a pro rata distribution of shares of Knife River stock in a transaction that is expected to be tax free to MDU Resources and its shareholders for U.S. federal income tax purposes. The two 'Eastern Montana' utilities became the nucleus of Montana-Dakota Utilities' operations. The combined utility business has a rate base of $2.8 billion and is expected to make $1.6 billion in capital investments over the next five years. This cookie, set by Cloudflare, is used to support Cloudflare Bot Management. What is the strategic rationale for spinning off Knife River? I am an MDU Resources shareholder. To protect our site, we cannot process your request right now. 02/24/2023. Employees in the top 10 percent can make over $86,000 per year, while employees at the bottom 10 percent earn less than $31,000 per year. mdu resources group inc. mdu resources. The MDU Resources board believes the proposed separation will unlock the inherent value within the two companies, which have unique growth prospects and investment opportunities. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023. Subsidiaries to MDU Resources include Young Brothers Inc Contractors. [2] It is headquartered in Bismarck, North Dakota, and operates in 48 states. 4% of MDU Resources employees are Black or African American. Spinoff of Knife River expected to unlock significant shareholder value. They ensure a project is completed on time and within budget. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Republican Party. The staff at MDU Resources come from unusually diverse demographic backgrounds. MDU Resources may also be known as or be related to MDU Resources, MDU Resources Group, MDU Resources Group Inc and MDU Resources Group, Inc. MDU Resources headquarters is in Bismarck, ND. Creates financial and strategic flexibility for each company to focus on core business opportunities. The company's filing status is listed as Active and its File Number is 1981716. MDU Resources may also be known as or be related to MDU Resources, MDU Resources Group, MDU Resources Group Inc and MDU Resources Group, Inc. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. [9], Cascade Natural Gas Corporation, serving parts of Oregon and Washington, was acquired by MDU Resources in 2006. MDU Resources is an industry leader with 10,140 employees and an annual revenue of $5.7B that is headquartered in North Dakota. We are a nationwide provider of power line and telecommunication wire stringing equipment and related tools. Locations 1200 W. Century Ave. Bismarck, ND 58503, US Get directions Employees at MDU Resources Group, Inc. Steve Held Vladimir Terzic Harry Pearce Laura Lueder Manager of Communications and. The company is 37.8% female and 18.4% ethnic minorities. The Registered Agent on file for this company is Linda Beery and is located at 3020 Saturn Street Suite 101, Brea, CA 92821. It also distributes cement and asphalt oil. How will this impact MDU Resources current quarterly dividend? Rebecca Dorwart has 6 months experience as Human Resources Special Projects Manager. Post-spinoff, MDU Resources intends to maintain a policy consistent with its historic practices. Your entire office will be able to use your search subscription. The event can be accessed atwww.mdu.com. Despite its diversity in other areas, MDU Resources employees are noticeably lacking in political diversity. Post-separation, MDU Resources intends to maintain a dividend policy consistent with its historic practice. [13], 2016 Portland gas explosion - Loy Clark lawsuits, Last edited on 24 December 2022, at 15:11, Public Utility Holding Company Act of 1935, "MDU Resources Announces 2017 Financial Results, Initiates Guidance for 2018", "MDU - Mdu Resources Group Inc Profile | Reuters", "About Loy Clark Construction - Serving the Portland Metro & Washington", "Pipeline at NW 23rd Ave. blast site was not pierced", "Oregon natural gas explosion injures eight, destroys building", "NW 23rd blast: Excavator dug on wrong side of street, caused natural gas explosion, report says", "10 lawsuits filed in aftermath of NW 23rd Ave. explosions", "Portland bagel shop owners sue pipeline company over 2016 explosion that destroyed business", "Cascade Natural Gas Corp. merger completed", "MDU Resources to Acquire Intermountain Gas Company", https://en.wikipedia.org/w/index.php?title=MDU_Resources&oldid=1129292950, This page was last edited on 24 December 2022, at 15:11. Skip to content Skip to main nav. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. MDU Resources board believes Knife River is poised to benefit from significant investments at the federal and local levels in infrastructure development and upgrades. J.P. Morgan Securities LLC and PJT Partners are serving as financial advisors for the transaction; Wachtell, Lipton, Rosen & Katz is serving as legal advisor. MDU Resources Group corporate office is located in 1200 W Century Ave, Bismarck, North Dakota, 58503, United States and has 791 employees. Primary Address. This website uses cookies to improve your experience while you navigate through the website. MDU Resources Group, Inc. website Headquartered in Bismarck, ND, MDU Resources Group, Inc. is celebrating our 90th year of Building a Strong America with value-added natural resources products and related services that are essential to energy and transportation infrastructure. Using a database of 30 million profiles, Zippia estimates demographics and statistics for MDU Resources. mdu resources group inc. mdu resources group. In addition,
Non-GAAP financial measures are not standardized; therefore, it may not be possible to compare such financial measures with other companies non-GAAP financial measures having the same or similar names. Help us make this company more transparent. 18 Deep, 3Wide, 7Tall 4.5% Sales Tax will be applied For additional information, contact Jack VandeKop @ (605) 340-5256 MDU Resources Group Corporate Headquarters, Office Locations and Addresses | Craft.co The firm's holdings initially consisted of the electric utility at Cushing, Oklahoma (later sold off to Oklahoma Gas & Electric), Minnesota Electric Light & Power Company, which served the Bemidji, Minnesota area (sold in 1925 to the W.B. These cookies will be stored in your browser only with your consent. 67% of the management team is White. For more information about MDU Resources, visit www.mdu.com or contact the Investor Relations Department at [emailprotected]. Dennis W. Johnson, chair of MDU Resources board, said, The board regularly assesses MDU Resources business, operations and value creation opportunities. Zippia gives an in-depth look into the details of MDU Resources, including salaries, political affiliations, employee data, and more, in order to inform job seekers about MDU Resources. Knife River has a successful track record of growth. Below youll find a list of the types of career opportunities you can find at Knife River. MDU Resources generates $5.7B in revenue. This category only includes cookies that ensures basic functionalities and security features of the website. The MDU Resources board believes Knife River is ready to continue its success as a stand-alone public company and take full advantage of anticipated work resulting from federal infrastructure funding. The companies have since partnered on two base-load power plants (Big Stone and Coyote). Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. After submitting your request, you will receive an activation email to the requested email address. It served approximately 938,867 residential, commercial, and industrial customers in 335 communities and adjacent rural areas. Jan 2004 - Mar 201511 years 3 months. MDU Construction Services Group employs more than 7,500 skilled employees across the country. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Rebecca Dorwart's job functions are Human Resources, Operations, Rebecca Dorwart's work email address is ***************@mdu.com, Rebecca Dorwart's LinkedIn profile can be found at, Rebecca Dorwart's work phone number (HQ) is +1 701-530-1***. if we've collected "Sales Lead Information" for a given company, it will be displayed on the
In just the past four years, it has completed 12 acquisitions and increased revenues 23%. By continuing to use this application, you consent to the use of cookies in accordance with our. About MDU ResourcesMDU Resources Group, Inc., a member of the S&P MidCap 400 and the S&P High-Yield Dividend Aristocrats indices, is Building a Strong America by providing essential products and services through its regulated energy delivery and construction materials and services businesses. It is headquartered in Bismarck, North Dakota, and operates in 48 states. $4,900 to the Republican Party. MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. Posted: January 31, 2023. Following the planned separation, MDU Resources will remain headquartered in Bismarck, North Dakota, and continue to be the parent company for MDU Resources existing regulated electric and natural gas utilities (Cascade Natural Gas Corp., Intermountain Gas Co., Montana-Dakota Utilities Co.), natural gas pipeline business (WBI Energy, Inc.) and construction services company (MDU Construction Services Group, Inc.). These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Phone: 800-638-3278. Necessary cookies are absolutely essential for the website to function properly. Initially, Minnesota Northern was only in the business of selling electric power, but entered the natural gas business following its discovery of oil in 1936 in the Williston Basin in Eastern Montana. Some of Rebecca Dorwart's colleagues are Mark Haag, Korey Fried, Eric Hope, Ben Morrison, Amanda Kadrmas, Ron Kutzler, Sheri Berogan, Christy Dirk-senn. We build complex, diverse projects for our customers and we're always looking for team members to contribute to our success. 10-K. This site is protected by reCAPTCHA and the Google. The company believes these non-GAAP financial measures are useful to investors by providing meaningful information about operational efficiency compared to the companys peers by excluding the impacts of differences in tax jurisdictions and structures, debt levels and capital investment. MDU Resources Group, Inc. is a U.S.-based corporation supplying essential products and services through its regulated energy delivery and construction materials and services businesses. The employee data is based on information from people who have self-reported their past or current employments at MDU Resources. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The following table provides a reconciliation of consolidated GAAP net income to EBITDA for 2021. About MDU Resources But opting out of some of these cookies may affect your browsing experience. MDU Construction Services Group is comprised of 16 local operating companies employing more than 8,500 skilled workers during peak season and has been ranked the fourth largest U.S. electrical contractor. Mahmoud Siddig, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449 MDU Resources employees are most likely to be members of the republican party. The Natural Gas Distribution segment distributes natural gas and offers related value-added services. We believe the spinoff will create many compelling benefits, including: With a successful track record of organic and M&A-driven growth, we have built Knife River into a leading aggregates-based construction materials business. MDU Resources employees are most likely to be members of the Republican Party. BISMARCK, N.D. Aug. 4, 2022 MDU Resources Group, Inc. (NYSE: MDU) today announced that its board of directors has unanimously approved a plan to separate its wholly owned construction materials business, Knife River Corporation, from the company. Address: 1200 W Century Ave Bismarck, ND, 58503-0911 United States See other locations Phone: Website: www.mdu.com Employees (this site): Actual Employees (all sites): Actual Revenue: $5.68 billion Actual Sales Growth: 2.67% Net Income Growth: -3.09% Assets: $8,910 Fiscal Year End: DEC Year Started: Stock Exchange: NYSE:MDU ESG ranking: MDU Construction Services Group These cookies ensure basic functionalities and security features of the website, anonymously. Our Customer Service Center can assist you with many account related requests, including checking balances, making payments, starting or stopping service, and much more. Necessary cookies are absolutely essential for the website to function properly. Second Quarter 2022 Financial Results Filing Jurisdiction, Entity Type, Registered Agent, File Number, Filing Status, and Business Category. Audio and webcast replays will be available through Aug. 18, 2022, at 888-203-1112, or 719-457-0820 for international callers, passcode ID 3010359. The national average salary for an MDU Resources employee in the United States is $52,489 per year. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". You also have the option to opt-out of these cookies. Employees at Portland General Electric earn more than most of the competition, with an average yearly salary of $79,561. Help other job seekers by rating MDU Resources. For more information about MDU Resources, visit the company's website at www.mdu.com. Overall MDU Resources is a great place to work with competitive salaries, leave time and other benefits. Both companies eventually realized the lawsuit was unproductive and they ceased litigation.[3]. We are taking an important step to significantly enhance the value inherent in our businesses by creating two focused, independent publicly traded companies, said David L. Goodin, president and CEO of MDU Resources. 02/21/2023. Since MDU Resources first aggregate company acquisition in 1992, weve built Knife River into a leading aggregates-based construction materials business. We will diligently work through the separation process to ensure each company is optimized to deliver value for shareholders.. By continuing to use this application, you consent to the use of cookies in accordance with our, Behnken named to national Innovation Institute, General foreman puts stop the bleed training into practice, saves mans life, MDU Resources Reports Third Quarter Earnings; Board Authorizes Strategic Review for MDU Construction Services Group, MDU Construction Services Group ranks No. The company anticipates completing the strategic review in the first half of 2023. We may use cookies and other similar technologies (together "cookies") to offer you a better web browsing experience and analyze usage.