MDU Resources Completes Spinoff of Everus Construction Group

Core Points - MDU Resources Group, Inc. has successfully completed the spinoff of its construction services subsidiary, Everus Construction Group, making it an independent public company [1][2] Distribution Details - The spinoff was executed through a pro rata distribution of Everus common stock to MDU Resources stockholders, with stockholders receiving one share of Everus for every four shares of MDU held as of October 21, 2024 [3] - Fractional shares of Everus were not distributed but sold on the open market, with net proceeds given as cash payments to stockholders [3] Trading Information - Everus common stock began trading on the NYSE under the ticker symbol "ECG," while MDU Resources continues to trade under "MDU" [4] - The distribution is expected to be tax-free for U.S. federal income tax purposes, except for cash received in lieu of fractional shares [4] Company Information - MDU Resources Group, Inc. is a member of the S&P SmallCap 600 Index and provides essential products and services through regulated energy delivery businesses [7] - Everus Construction Group offers a full spectrum of construction services, including electrical and mechanical contracting, and transmission and distribution services across the U.S. [8]