MDU Resources (MDU)

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MDU splits its stock...

MDU Resources Lifts Dividend 6.3%; Splits Stock 3-for-2
Thursday August 14, 11:21 am ET

BISMARCK, N.D. (Dow Jones)--MDU Resources Group Inc. increased its quarterly stock dividend 6.3% to 25.5 cents from 24 cents while also setting a 3-for-2 stock split.

The dividend increase, 6 cents annually, is the first since August 2002, when the quarterly dividend was raised by a penny. After the split, the dividend will be 17 cents a share a quarter, or 68 cents a year.

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To split the stock, the company will issue a 50% common stock dividend to shareholders on October 10, after paying out the quarterly dividend on October 1. Fractional shares will be paid for in cash at the closing price on October 10.

Separately, MDU also said John K. Wilson, 48 years, has been named to the board. He is president of Durham Resources LLC, a financial management company.