RAPID CITY, SD - Black Hills Corp . (NYSE: NYSE:BKH), a utility company serving over a million customers across eight states, has declared a quarterly dividend of $0.65 per common share, as announced on Monday. Shareholders on record as of August 19, 2024, will be eligible for the dividend, which is scheduled for payment on September 1, 2024.
In addition to the dividend declaration, Black Hills Corp. has confirmed the release of its second quarter earnings for the year 2024 after market close on Wednesday, July 31, 2024. A live conference call and webcast to discuss the financial results is slated for 11 a.m. Eastern Daylight Time on Thursday, August 1, 2024.
Interested parties can access the webcast on the Black Hills Corp. website under the "Investor Relations" section, where they can find additional information under "News and Events" and "Events & Presentations." Alternatively, participants may join the call by registering online, where they will receive dial-in information and a personal identification number. The registration link will remain active until the conclusion of the live broadcast.
Black Hills Corp. emphasizes its customer-focused and growth-oriented approach, aiming to be the preferred energy partner. With its headquarters in Rapid City, South Dakota, the company provides natural gas and electric utility services in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
In other recent news, Black Hills Corp has made significant strides in both its financial and operational ventures. The utility company, based in Rapid City, South Dakota, recently priced a $450 million debt offering of 6.00% senior unsecured notes due January 15, 2035. The proceeds from this debt offering, along with available cash or potential short-term borrowings, will be used to repay its $600 million outstanding notes due in August 2024.
In terms of financial performance, Black Hills Corp reported an 8% increase in earnings per share in the first quarter compared to the same period last year. This growth was attributed to new rates and effective expense management. The company also reaffirmed its earnings guidance for the year, indicating confidence in its financial trajectory.
Expanding its renewable energy portfolio, Black Hills Corp is planning for additional megawatts in Colorado and South Dakota and progressing with the Ready Wyoming Electric Transmission project. The company's strategic initiatives in renewable energy and transmission projects are expected to contribute positively to future earnings.
In line with its growth strategy, Black Hills Corp is also expanding services to data center and blockchain customers. Regulatory approvals for gas rate reviews in Colorado and Wyoming have been obtained, providing further stability for the company. These are the recent developments that continue to shape the company's progress.
InvestingPro Insights
As Black Hills Corp. (NYSE: BKH) gears up for its second quarter earnings release and continues to reward shareholders with consistent dividends, investors may find the following insights from InvestingPro particularly useful in evaluating the company's financial health and stock performance.
One notable highlight for Black Hills Corp. is its impressive track record of dividend reliability. The company has not only maintained but raised its dividend for 54 consecutive years, showcasing a strong commitment to returning value to its shareholders. This is a testament to the company's financial stability and prudent capital management over an extended period.
InvestingPro Data also reveals that Black Hills Corp. is currently trading at a P/E ratio of 14.22, which may be considered attractive to investors looking for reasonable valuation levels. Additionally, the stock has exhibited low price volatility, suggesting that it could be a suitable addition for investors seeking stable equity performance in their portfolios.
To gain a deeper understanding of Black Hills Corp.'s financial metrics and stock performance, including additional InvestingPro Tips, interested investors can explore further details on InvestingPro. There are 7 more InvestingPro Tips available, providing a comprehensive analysis for those considering an investment in the company. Remember to use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, enhancing your investment research with premium insights and data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.