MDU Resources Group (MDU) Declares $0.22 Dividend

MDU Resources Group said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.89 annualized). Previously, the company paid $0.22 per share.

Shares must be purchased before the ex-div date of June 12, 2023 to qualify for the dividend. Shareholders of record as of June 13, 2023 will receive the payment on July 1, 2023.

At the current share price of $29.32 / share, the stock's dividend yield is 3.04%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.08%, the lowest has been 2.47%, and the highest has been 4.71%. The standard deviation of yields is 0.35 (n=236).

The current dividend yield is 0.12 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 761 funds or institutions reporting positions in MDU Resources Group. This is an increase of 27 owner(s) or 3.68% in the last quarter. Average portfolio weight of all funds dedicated to MDU is 0.28%, an increase of 0.52%. Total shares owned by institutions decreased in the last three months by 0.65% to 165,359K shares. The put/call ratio of MDU is 0.05, indicating a bullish outlook.

Analyst Price Forecast Suggests 17.41% Upside

As of April 23, 2023, the average one-year price target for MDU Resources Group is 34.42. The forecasts range from a low of 29.29 to a high of $40.95. The average price target represents an increase of 17.41% from its latest reported closing price of 29.32.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for MDU Resources Group is 7,101MM, a decrease of 2.65%. The projected annual non-GAAP EPS is 2.14.

What are Other Shareholders Doing?

Corvex Management holds 10,147K shares representing 4.98% ownership of the company. No change in the last quarter.

SDY - SPDR(R) S&P(R) Dividend ETF holds 8,489K shares representing 4.17% ownership of the company. In it's prior filing, the firm reported owning 9,304K shares, representing a decrease of 9.60%. The firm decreased its portfolio allocation in MDU by 13.21% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 6,280K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 5,942K shares, representing an increase of 5.37%. The firm increased its portfolio allocation in MDU by 2.32% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,184K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 6,062K shares, representing an increase of 1.96%. The firm increased its portfolio allocation in MDU by 4.50% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 5,239K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 5,163K shares, representing an increase of 1.44%. The firm increased its portfolio allocation in MDU by 4.20% over the last quarter.

MDU Resources Group Background Information
(This description is provided by the company.)

MDU Resources Group, Inc., a member of the S&P MidCap 400 index and the S&P High-Yield Dividend Aristocrats index, is Building a Strong America® by providing essential products and services through its regulated energy delivery and construction materials and services businesses.

This story originally appeared on Fintel.