MDU Resources Files 2026 Annual Report to Security Holders

Ticker: MDU · Form: ARS · Filed: Apr 1, 2026 · CIK: 0000067716

Sentiment: neutral

Topics: annual-report, shareholder-disclosure, financials

Related Tickers: MDU

TL;DR

MDU Resources dropped its 2026 ARS filing on 4/1. Check it for the latest financials.

AI Summary

MDU Resources Group Inc. filed its Annual Report to Security Holders (ARS) on April 1, 2026, for the period ending March 31, 2026. The filing includes 259 documents, primarily consisting of the main ARS filing and numerous graphic files. This report provides shareholders with an update on the company's performance and financial standing.

Why It Matters

This filing provides shareholders with the official annual update on MDU Resources Group Inc.'s financial performance and operational activities for the period ending March 31, 2026.

Risk Assessment

Risk Level: low — This is a routine annual report filing and does not contain new material events or financial distress indicators.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of an ARS filing?

An ARS (Annual Report to Security Holders) filing provides shareholders with a comprehensive overview of the company's financial performance, operations, and other relevant information for the past fiscal year.

When was this specific ARS filing submitted to the SEC?

This ARS filing for MDU Resources Group Inc. was filed on April 1, 2026.

What period does this ARS report cover?

The period of report for this ARS filing is March 31, 2026.

What does the number of documents (259) suggest about this filing?

The large number of documents (259) suggests that the filing is extensive, including the main ARS report and numerous associated graphic files.

Is this filing indicative of a new event or change for MDU Resources Group Inc.?

No, this is a routine Annual Report to Security Holders filing, indicating the regular disclosure of company performance and financial information.

Filing Stats: 4,381 words · 18 min read · ~15 pages · Grade level 13.1 · Accepted 2026-04-01 08:29:27

Key Financial Figures

Filing Documents

From the Filing

a2026mdurannualreportand ENERGIZING LIVES FOR A BETTER TOMORROW TM MDU Resources Group, Inc. 2025 Annual Report and 2026 Proxy Statement Fellow Stockholders: Although much has changed at MDU Resources over the past several years, much has remained the same. At the core of our evolution has been a steadfast commitment to reliability, disciplined execution and long-term value creation for our stockholders. As we have completed our transformation into a pure play regulated energy company, that commitment has guided every strategic decision and we believe has positioned MDU Resources for consistent performance and steady growth. Our strategy is grounded in focus, discipline and execution. We operate a diversified portfolio of regulated electric, natural gas distribution and pipeline assets that provides stability through economic cycles while designed to support longterm growth. The goal of this approach is to enable us to evolve our company and align capital allocation, operational priorities and regulatory engagement to create enduring value. In 2025, that strategy continued to translate into tangible results. Customer growth remained within our targeted 1% to 2% range, regulatory engagement remained constructive and our teams advanced a portfolio of infrastructure investments designed to strengthen reliability and increase system capacity. These investments are longlived and closely aligned with meeting customer affordability needs. Capital investment remains central to our value proposition. We are executing a multiyear plan to invest approximately $3.1 billion over five years, focused on electric transmission, natural gas distribution infrastructure and pipeline expansion projects. This investment path is expected to support long-term earnings per share growth of 6% to 8% as well as continued rate base growth. We continue to pursue this growth while maintaining financial discipline. Our balance sheet and capital structure are managed to support financial flexibility and longterm stockholder value. In 2025, the board of directors approved a 7.7% dividend increase, extending our record of 88 consecutive years of uninterrupted dividends. This reflects the durability of our regulated business model and our commitment to consistent returns. Letter to Stockholders MDU RESOURCES GROUP, INC.2 Energizing Growth Where It Matters Reliable energy delivery is the foundation of strong communities. Across our service territory, more than 1.2 million electric and natural gas customers depend on our systems every day to energize homes, businesses, hospitals, schools and other essential services. Customer growth continues to be a steady and important driver of investment. Residential and commercial development remains healthy across our footprint, while industrial demand continues to evolve. Increasingly, our systems are supporting energyintensive customers such as data centers and advanced manufacturing facilities. Our approach to serving data center customers reflects the benefits of disciplined execution within a regulated framework. These customers are currently served with minimal capital investment. This strategy provides benefits to all customers through improved utilization of system assets, revenue sharing mechanisms and transmission cost efficiencies that help support affordability. Balancing cost-effectiveness with infrastructure investment remains a central focus. Throughout 2025, we advanced regulatory activity across multiple jurisdictions to align cost recovery with capital investments and operating costs. Supportive regulatory mechanisms like infrastructure riders and interim rate relief help ensure timely recovery while supporting cost-effectiveness and system reliability. Beyond energy delivery, we remain deeply committed to the communities we serve. Through customer assistance programs, energy efficiency initiatives and community partnerships, we work to ensure access to essential energy services, and we support community development across our footprint. Strength in Every Mile, Reliability in Every Watt and Therm Operational excellence is a defining characteristic of MDU Resources. In 2025, our teams continued to execute on a diverse portfolio of projects designed to strengthen reliability, expand capacity and support longterm growth. The Badger Wind project represents a cost-effective addition to our resource portfolio. We acquired a 49% undivided ownership interest, representing 122.5 megawatts of the project's total 250megawatt capacity, with 27.5 megawatts of the remaining capacity under a longterm power purchase agreement. We also continued to advance the JamestowntoEllendale Transmission Line (JETx), a 345kilovolt transmission project in North Dakota being developed in partnership with Otter Tail Power. Identified through the Midcontinent Independent System Operator's LongRange Transmission Planning process, JETx is designed to enhance grid reliability, improve resiliency during extreme weath

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