Strong infrastructure is the heart of the U.S. economy. We provide essential products and services through our regulated energy delivery and construction materials and services businesses.

Why Invest in MDU Resources? 

  • Dividend growth: 2.5% CAGR (2017-2022) 
  • 7.3% EBITDA1 CAGR (2017-2022)
  • 5.2% adjusted EPS CAGR (2017-2022)
  • 20-year average shareholder return of 8.1% ending 2022
  • Dividends paid uninterrupted for 85 years

Learn More About Our Businesses

MDU Resources provides essential products and services that are critical to Building a Strong America®.

Regulated Energy Delivery

Electric and Natural Gas Utilities

Our utility group, comprised of four utility companies, provides natural gas and/or electric power to nearly 1.18 million customers across eight states.

From 2017 to 2022, our utility rate base grew at a compound annual rate of 7.4% to a combined $3.0 billion. We expect to invest approximately $2.1 billion from 203-2027 to replace, expand and modernize our existing infrastructure.


  • Cascade Natural Gas Corporation distributes natural gas in Oregon and Washington.
  • Great Plains Natural Gas Co. distributes natural gas in western Minnesota and southeastern North Dakota.
  • Intermountain Gas Company distributes natural gas in southern Idaho.
  • Montana-Dakota Utilities Co. generates, transmits and distributes electricity and distributes natural gas in Montana, North Dakota, South Dakota and Wyoming.


WBI Energy provides natural gas transportation through approximately 3,800 miles of regulated pipeline systems primarily in the Rocky Mountain and northern Great Plains regions of the United States.

WBI Energy’s system is strategically located near five natural gas-producing basins, making natural gas readily supplies available to the company's transportation and storage customers. The system has 14 interconnecting points with other pipeline facilities, allowing for the receipt and/or delivery of natural gas to and from other regions of the country and Canada. WBI Energy owns the largest natural gas storage field in North America, which is adjacent to the Bakken play.

The vast majority of our pipeline business is regulated, providing low-risk, stable returns. From 2023-2027, WBI Energy plans to invest $458 million in its pipeline system, including organic growth projects and system upgrades and replacements with a focus on being the pipeline of choice for demand customers as well as customers in the Bakken.

WBI Energy also provides cathodic protection and other energy-related services

Construction Materials and Services

Construction Materials

Knife River Corporation mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mix concrete, cement, asphalt, liquid asphalt and other value-added products. Knife River also operates a contracting business that performs laydown and heavy civil services and performs other construction projects. It performs integrated contracting services.

Aggregates is a $27 billion market in the United States and is essential to America’s infrastructure. Knife River’s products are used by its internal contracting business as well as others for the building of roads, bridges and airport runways, as well as commercial, residential, industrial and governmental projects. Knife River is well-positioned to expand its market share given its increasing reach and robust aggregates reserves.

Key Stats

  • Top 10 producer of aggregates in America.
  • 1.1 billion tons of aggregate reserves.
  • Nearly 6,000 employees during peak construction season.

Construction Services

MDU Construction Services Group, Inc. provides electrical and mechanical and transmission and distribution specialty contracting services.

Its services include construction and maintenance of electrical and communication wiring and infrastructure, fire suppression systems, and mechanical piping and services.

This business unit also performs construction and maintenance of overhead and underground electrical, gas and communication infrastructure, as well as manufacturing and distribution of transmission line construction equipment and tools.

MDU Construction Services Group serves some of the country’s largest companies across the utility, manufacturing, industrial, transportation and data infrastructure sectors.


Key Stats
  • More than 8,500 employees during peak construction season.
  • No. 12 on Engineering New Record's 2022 Top 600 Specialty Contractors list.
  • No. 5 on Electrical Construction & Maintenance magazine's 2022 Top 50 Electrical Contractors list.



1. EBITDA is considered a non-GAAP financial measure.