Knife River now trading on stock exchange

By |  June 1, 2023

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Knife River Corp. completed its spinoff from MDU Resources Group, making the organization an independent, public company that began “regular way” trading today on the New York Stock Exchange.

Knife River and MDU Resources shared their plans for the spinoff last August.

“The opportunity to ring the opening bell at the New York Stock Exchange this morning, representing nearly 6,000 dedicated Knife River team members, is truly an honor and is an exciting moment in our company’s history,” says Brian Gray, president and CEO of Knife River. “Our team is well established and well prepared to be on our own as a pure-play construction materials and contracting services company. We are focused on building America’s infrastructure and delivering long-term value for our shareholders.”

According to Knife River, its separation from MDU Resources occurred through a pro rata distribution of about 90 percent of the outstanding shares of Knife River common stock to MDU Resources’ stockholders.

In connection with the spinoff, MDU Resources’ stockholders retained their shares of MDU Resources common stock and received one share of Knife River common stock for every four shares of MDU common stock held on May 22 – the record date for the distribution. MDU Resources retained about 10 percent of Knife River’s common stock. 

and posted in News, Road to Prosperity
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Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or

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