MDU Resources Increases Common Stock Dividend for 19th Straight Year

The MDU Resources Group (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.

And just yesterday, this blog suggested that investing in the Bakken might be one of the better things a young investor could do, and specifically mentioned MDU as an example of a company that rewards its shareholders with a nice dividend. MDU would not be raising its dividend if it anticipated significant cash flow problems going forward.