100th Anniversary
Celebrating 100 Years
MDU Resources has come a long way since its start in 1924 as a small electric utility serving a handful of small communities on the Montana and North Dakota border. Over 100 years, MDU Resources has grown into a corporation with operations across the United States. As the company celebrates its centennial anniversary in 2024, it’s an exciting time to reflect on the past century of growth and success that has defined MDU Resources’ remarkable journey.
Our Company History
MDU Resources has a proud history.
Incorporated on March 14, 1924, MDU Resources started as a small utility business. While MDU Resources branched out into other industries over the years, it has throughout its history remained committed to its core business of regulated energy delivery.
As the company celebrates 100 years, it looks forward to the next century of providing safe, reliable and cost-effective electric and natural gas service to the customers and communities it serves.
Explore the timeline below to learn more of its story.
Company Begins
The company is incorporated and begins acquiring small electric utilities in eastern Montana.
Natural Gas
A subsidiary company, now known as WBI Energy, is formed to look for natural gas and build pipelines to transport the gas so it can be used to fuel electric generating stations.
One Company
All subsidiaries merge under a single corporation, Montana-Dakota Utilities Co.
Coal For Fuel
The company acquires a coal-mining operation to supply fuel for its electric generating stations.
On The NYSE
The company common stock begins trading Sept. 20, 1948, on the New York Stock Exchange. At the time, the company had assets of $59 million and total revenues of $11 million.
On The Move
The company moves its corporate headquarters from Minneapolis to Bismarck, North Dakota, to be located closer to the company’s primary operations.
New Name
The corporation realigns under a new name, MDU Resources Group, Inc., to better reflect its expanding operations.
Rock On!
MDU Resources uses its coal-mining expertise to venture into aggregate mining, acquiring its first operation to get into the construction materials and mining business.
Utility Services
Expanding on the company’s extensive utility experience, MDU Resources launches a construction services business that provides a variety of utility, electrical wiring and mechanical services.
In Minnesota
MDU Resources expands its utility operations into Minnesota with the acquisition of Great Plains Natural Gas Co., a natural gas distribution company.
Still Rocking!
MDU Resources sells its coal operations, putting its mining focus on its aggregate-based construction materials business.
In Oregon and Washington
MDU Resources expands its utility operations to the West Coast with the acquisition of Cascade Natural Gas Corporation, which provides natural gas service to customers in Oregon and Washington.
In Idaho
MDU Resources grows its utility operations again with the acquisition of Intermountain Gas Company, which provides natural gas service to customers in Idaho.
Fortune 500
MDU Resources is listed on the Fortune 500 for the first time.
Wind Projects
Montana-Dakota Utilities has two wind projects, one in Montana and one in North Dakota, become operational.
Exit E&P
MDU Resources exits the oil and gas exploration and production business.
More Wind
Montana-Dakota Utilities adds a third wind project in North Dakota. Phase I goes online in 2016 and Phase II in 2018, for a total of 155.5 megawatts.
Natural Gas Expansion
Montana-Dakota Utilities extends natural gas service to Doosan Bobcat's manufacturing facility in Gwinner, North Dakota. The 12-inch pipeline of 21 miles also brings natural gas service to the communities of Milnor and Gwinner.
Stock Dividends Increase
MDU Resources increases its stock dividend for the 30th consecutive year. The company has been paying dividends uninterrupted since 1937.
31 Years of Dividend Increases
MDU Resources increases dividends for the 31st consecutive year.
Fortune 500
MDU Resources is listed on the Fortune 500.
Coal Generation Retirements
Montana-Dakota Utilities retires two wholly owned coal generation units, the first in 2021 and the second in 2022. The units combined for 144 megawatts.
North Bakken Expansion Project Complete
The North Bakken Expansion project is put into service. It has capacity to transport 250 million cubic feet of natural gas per day from North Dakota's Bakken production area and can be increased up to 625 million cubic feet per day through additional compression to meet growing demand.
Stock Dividends Increase
MDU Resources increases its stock dividend for the 32nd consecutive year. The company has been paying dividends uninterrupted since 1937.
MDU Resources Completes Spinoff of Knife River
MDU Resources successfully completed the spinoff of its construction materials subsidiary, Knife River Corporation, on June 1. Knife River is now an independent, public company listed on the New York Stock Exchange under the ticker symbol "KNF."
0
Bcf/Day
Natural Gas Transportation Capacity
0
Million
Utility Customers
4
th
Largest Specialty Contractor, According to Engineering News-Record
$
0
M+
Charitable Giving Since 1983
0
Listed on the New York Stock Exchange
“When communities thrive, we thrive.”
When Rolland Heskett founded the company in 1924, he embodied the value of “when communities thrive, we thrive.” Throughout the company’s growth and evolution during the last 100 years, this value has been a mainstay.
Since 1983, the MDU Resources Foundation has donated nearly $45 million throughout the communities we serve.
In honor of the 100th anniversary, the foundation will donate a total of $100,000 to 10 charities nominated by our employees. Check back later to learn which charities will receive a donation.
100th Anniversary Highlights
North Dakota Gov. Doug Burgum congratulates MDU Resources on 100th anniversary
North Dakota Gov. Doug Burgum extended a special congratulatory message to MDU Resources and its employees in honor of the…
Montana Gov. Gianforte congratulates MDU Resources for 100 years
MDU Resources got its start serving farm communities along the North Dakota-Montana border. In honor of MDU Resources’ 100th…
MDU Resources rings closing bell at NYSE in honor of 100th anniversary
MDU Resources rang the closing bell at the New York Stock Exchange on March 13 to kick off a…
City of Bismarck honors MDU Resources' 100th anniversary with a proclamation
We’re proud to be headquartered in Bismarck, North Dakota. What an honor to have our home community recognize our 100th…
MDU Resources celebrates 100 years with Analyst and Investor Day, ringing closing bell at NYSE
MDU Resources (NYSE: MDU) is preparing to kick off a yearlong celebration of its 100th anniversary by ringing the closing…
State of North Dakota honors MDU Resources' 100th anniversary with proclamation
MDU Resources got its start serving farm communities along the North Dakota-Montana border. Today, our headquarters are in Bismarck, North…