Everus Construction Group announced the successful completion of its spinoff from MDU Resources Group, Inc. (NYSE: MDU). As a result of the spinoff, Everus will begin “regular way” trading on the New York Stock Exchange as its board of directors and leadership team celebrate becoming an independent, publicly traded company by ringing the Opening Bell®.
“Today marks an exciting milestone in Everus’ history, which would not have been possible without the hard work and dedication of our highly skilled team members across the country,” said Jeffrey S. Thiede, president and CEO of Everus. “We remain focused on our mission of safely Building America’s Future as one of the largest specialty construction services providers in the U.S. and are well-positioned to benefit from several powerful market drivers and industry megatrends, including data center growth, grid modernization and high-tech reshoring. Our proven leadership team is committed to executing on our 4EVER strategy, and we are ready to implement our disciplined capital allocation initiatives as a stand-alone company to drive sustained, profitable growth and long-term value for our shareholders.”
As previously announced, Everus’ separation occurred through a pro rata distribution of 100% of Everus’ outstanding shares of common stock to MDU Resources stockholders. On Oct. 31, MDU Resources’ stockholders retained their shares of MDU common stock while receiving one share of ECG common stock for every four shares of MDU stock held on the record date of Oct. 21. Additional details about the stock distribution and Everus’ business and management can be found in the final information statement filed as Exhibit 99.1 to an 8-K dated Oct. 18, which can be found at investors.everus.com.
