MDU Resources declares $0.125 quarterly dividend; sets 60-70% payout target

MDU RESOURCES GROUP INC

Quarterly dividend of $0.125 per share declared, payable Oct 1 to holders of record Sept 14.
Annualized dividend represents ~66% payout ratio on 2023 regulated energy earnings guidance midpoint.
Board established long-term dividend payout target of 60-70% of regulated energy delivery earnings.
Company pursuing tax-advantaged separation of construction services to become pure-play regulated energy delivery.
Completed spinoff of Knife River Corporation on May 31, 2023.

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