Home › Companies › MDU RESOURCES GROUP INC. › 2024-2025

MDU RESOURCES GROUP INC. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and MDU RESOURCES GROUP INC.’s Form 8-K, filed 2025-05-15 (Item 5.07 on EDGAR). Page generated 02 October 2026.

  • 14Reported items
  • 446Asset managers
  • 3,990Fund votes
  • 2025-05-13Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore MDU RESOURCES GROUP INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by MDU RESOURCES GROUP INC.

These tallies are MDU RESOURCES GROUP INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-15 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

MDU RESOURCES GROUP INC. — official shareholder meeting results, meeting held 2025-05-13
Ballot itemForAgainst AbstainWithheldBroker non-votesOutcome
Elect Director: Darrel T. Anderson 157,341,5672,322,198316,548 --24,207,393 Majority: yes
Elect Director: Vernon A. Dosch 159,054,288602,106323,919 --24,207,393 Majority: yes
Elect Director: Marian M. Durkin 158,958,893698,185323,235 --24,207,393 Majority: yes
Elect Director: Douglas W. Jaeger 159,001,699649,265329,349 --24,207,393 Majority: yes
Elect Director: Dennis W. Johnson 153,505,9426,063,862410,509 --24,207,393 Majority: yes
Elect Director: Nicole A. Kivisto 159,133,329534,431312,553 --24,207,393 Majority: yes
Elect Director: Priti R. Patel 158,972,840655,615351,858 --24,207,393 Majority: yes
Proposal 2: Advisory Vote to Approve Executive Compensation 148,199,12910,334,3991,446,785 --24,207,393 Majority: yes
Proposal 3: Approval of LTIP 152,735,1905,936,8281,308,295 --24,207,393 Majority: yes
Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm 181,721,0261,754,676712,004 ---- Majority: yes

Source: MDU RESOURCES GROUP INC., Form 8-K, filed with the SEC on 2025-05-15 — read the filing on EDGAR.

How asset managers voted at the MDU RESOURCES GROUP INC. 2024-2025 meeting

Each item below shows how the 446 asset managers that disclosed a MDU RESOURCES GROUP INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of MDU RESOURCES GROUP INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 12 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%
FOR: 148,199,129AGAINST: 10,334,399

MDU RESOURCES GROUP INC.’s own tally for this item (“Proposal 2: Advisory Vote to Approve Executive Compensation”): 148,199,129 for, 10,334,399 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 73% for, 5% against (78% of the company cast a for/against vote).

The 442 asset managers below cast 91% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the total votes cast at the meeting.

FOR 91%9%
FOR: 90.7%AGAINST: 9.1%ABSTAIN: 0.0%NOT VOTED: 0.1%
Largest asset managers voting on “Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation.” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,505,7126,177 30For
BlackRock22,955,8113,729 00For
State Street9,135,5840 00For
Dimensional7,763,7790 00For
BARROW HANLEY MEWHINNEY & STRAUSS LLC7,456,3160 00For
American Century06,429,075 00Against
Bridge Builder Trust6,274,7630 00For
Corvex Management LP4,462,5370 00For
Charles Schwab4,227,3010 00For
Allspring3,743,2440 00For
MACQUARIE INVESTMENT MANAGEMENT BUSINESS TRUST3,534,8810 00For
GEODE CAPITAL MANAGEMENT, LLC3,311,0220 00For
Delaware/Macquarie3,295,1000 00For
Fidelity3,132,0700 00For
Pertento Partners LLP3,075,4220 00For
Invesco02,926,913 00Against
HENNESSY FUNDS TRUST2,070,7070 00For
PARAMETRIC PORTFOLIO ASSOCIATES LLC2,009,2300 00For
Neuberger Berman1,720,3360 00For
FRONTIER CAPITAL MANAGEMENT CO LLC01,548,898 00Against
Northern Trust1,498,2000 00For
Global X1,485,9290 00For
JUPITER ASSET MANAGEMENT LTD1,379,6460 00For
AQR1,261,2830 00For
First Trust1,181,2450 00For

Showing the 25 largest of 442 asset managers. See all 442 in the interactive database.

2. Elect Seven Directors to the Board to Serve for One-Year Terms: Darrel T. Anderson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 157,341,567AGAINST: 2,322,198

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Darrel T. Anderson”): 157,341,567 for, 2,322,198 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 77% for, 1% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,742,762 for, 27,710 against).

FOR 99.7%
FOR: 88,742,762 (99.8%)AGAINST: 27,710 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Darrel T. Anderson” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7746 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

3. Elect Seven Directors to the Board to Serve for One-Year Terms: Dennis W. Johnson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%
FOR: 153,505,942AGAINST: 6,063,862

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Dennis W. Johnson”): 153,505,942 for, 6,063,862 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 75% for, 3% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.1% of the shares they voted on this item FOR (87,981,434 for, 789,037 against).

FOR 99%
FOR: 87,981,434 (98.9%)AGAINST: 789,037 (0.9%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Dennis W. Johnson” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,76514 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust5,524,711750,052 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,684139 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

4. Elect Seven Directors to the Board to Serve for One-Year Terms: Douglas W. Jaeger

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 159,001,699AGAINST: 649,265

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Douglas W. Jaeger”): 159,001,699 for, 649,265 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 78% for, 0.4% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,770,470 for, 2 against).

FOR 99.8%
FOR: 88,770,470 (99.8%)AGAINST: 2 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Douglas W. Jaeger” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7782 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

5. Elect Seven Directors to the Board to Serve for One-Year Terms: Marian M. Durkin

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 158,958,893AGAINST: 698,185

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Marian M. Durkin”): 158,958,893 for, 698,185 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 78% for, 0.4% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,742,766 for, 27,706 against).

FOR 99.7%
FOR: 88,742,766 (99.8%)AGAINST: 27,706 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Marian M. Durkin” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7782 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

6. Elect Seven Directors to the Board to Serve for One-Year Terms: Nicole A. Kivisto

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%
FOR: 159,133,329AGAINST: 534,431

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Nicole A. Kivisto”): 159,133,329 for, 534,431 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 78% for, 0.3% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,770,470 for, 1 against).

FOR 99.8%
FOR: 88,770,470 (99.8%)AGAINST: 1 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Nicole A. Kivisto” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7781 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

7. Elect Seven Directors to the Board to Serve for One-Year Terms: Priti R. Patel

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 158,972,840AGAINST: 655,615

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Priti R. Patel”): 158,972,840 for, 655,615 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 78% for, 0.4% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,770,470 for, 2 against).

FOR 99.8%
FOR: 88,770,470 (99.8%)AGAINST: 2 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Priti R. Patel” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7782 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

8. Elect Seven Directors to the Board to Serve for One-Year Terms: Vernon A. Dosch

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 5 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%
FOR: 159,054,288AGAINST: 602,106

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Vernon A. Dosch”): 159,054,288 for, 602,106 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 78% for, 0.3% against (78% of the company cast a for/against vote).

The 103 asset managers below cast 99.9% of the shares they voted on this item FOR (88,770,470 for, 1 against).

FOR 99.8%
FOR: 88,770,470 (99.8%)AGAINST: 1 (0.0%)ABSTAIN: 5,679 (0.0%)NOT VOTED: 169,039 (0.2%)
Largest asset managers voting on “Elect Seven Directors to the Board to Serve for One-Year Terms: Vernon A. Dosch” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7781 10For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Empower250,5160 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For

Showing the 25 largest of 103 asset managers. See all 103 in the interactive database.

9. Approve the Amended and Restated Long-Term Performance- Based Incentive Plan.

COMPENSATION

Meeting held 2025-05-13.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 96%

The 102 asset managers below cast 96% of the shares they voted on this item FOR (85,383,945 for, 3,321,484 against).

FOR: 85,383,945 (96.2%)AGAINST: 3,321,484 (3.7%)ABSTAIN: 5,681 (0.0%)
Largest asset managers voting on “Approve the Amended and Restated Long-Term Performance- Based Incentive Plan.” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,092,7707 30For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century03,202,502 00Against
Fidelity3,120,3480 00For
State Street3,114,8230 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For
AQR374,2850 00For

Showing the 25 largest of 102 asset managers. See all 102 in the interactive database.

10. RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE 2025 FISCAL YEAR.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2025-05-13.

Combines 2 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%
FOR: 181,721,026AGAINST: 1,754,676

MDU RESOURCES GROUP INC.’s own tally for this item (“Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm”): 181,721,026 for, 1,754,676 against, per its Form 8-K filed 2025-05-15 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 89% for, 0.9% against (90% of the company cast a for/against vote).

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (88,695,492 for, 6,307 against).

FOR 99.9%
FOR: 88,695,492 (100.0%)AGAINST: 6,307 (0.0%)ABSTAIN: 5,678 (0.0%)
Largest asset managers voting on “RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard23,086,6116,169 00For
BlackRock18,514,1580 00For
Dimensional6,840,7400 00For
Bridge Builder Trust6,274,7630 00For
Delaware/Macquarie3,295,1000 00For
American Century3,202,5020 00For
Fidelity3,120,3480 00For
State Street3,114,684139 00For
HENNESSY FUNDS TRUST2,070,7070 00For
Charles Schwab2,041,0760 00For
Allspring1,703,9490 00For
Global X1,485,9290 00For
First Trust1,179,4230 00For
Investment Managers Series Trust III916,2830 00For
Invesco906,0630 00For
MFS767,9830 00For
WisdomTree702,9240 00For
Columbia Threadneedle569,0410 00For
Jackson National536,8490 00For
Neuberger Berman519,8250 00For
NEEDHAM FUNDS INC461,0000 00For
AMERICAN BEACON FUNDS441,5400 00For
Manager Directed Portfolios415,7740 00For
TIAA392,8830 00For
AQR374,2850 00For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

11. Amend Restricted Stock Plan

COMPENSATION

Meeting held 2025-05-13.

100% fund support · no official result

FOR 28%NOT VOTED 72%

The 3 asset managers below cast 100% of the shares they voted on this item FOR (65,202 for, 0 against).

FOR: 65,202 (27.8%)NOT VOTED: 169,039 (72.2%)
Largest asset managers voting on “Amend Restricted Stock Plan” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Empower38,1000 00Not Voted
GuideStone16,8260 00For
CLEARWATER INVESTMENT TRUST10,2760 00For

12. Ratify Deloitte & Touche LLP as Auditors

AUDIT-RELATED

Meeting held 2025-05-13.

100% fund support · no official result

FOR 28%NOT VOTED 72%

The 3 asset managers below cast 100% of the shares they voted on this item FOR (65,202 for, 0 against).

FOR: 65,202 (27.8%)NOT VOTED: 169,039 (72.2%)
Largest asset managers voting on “Ratify Deloitte & Touche LLP as Auditors” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Empower38,1000 00Not Voted
GuideStone16,8260 00For
CLEARWATER INVESTMENT TRUST10,2760 00For

13. Advisory Vote to Approve the Compensation Paid to the Company's Named Executive Officers

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2024-05-14 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

Combines 2 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%
FOR: 149,441,848AGAINST: 5,921,590

MDU RESOURCES GROUP INC.’s own tally for this item (“Elect Director: Advisory Vote to Approve the Compensation Paid to the Company's Named Executive Officers”): 149,441,848 for, 5,921,590 against, per its Form 8-K filed 2024-05-20 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 204,331,170 outstanding shares: 73% for, 3% against (76% of the company cast a for/against vote).

The 3 asset managers below cast 100% of the shares they voted on this item FOR (1,646 for, 0 against).

FOR 100%
FOR: 1,646 (100.0%)
Largest asset managers voting on “Advisory Vote to Approve the Compensation Paid to the Company's Named Executive Officers” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
DIVIDEND ASSETS CAPITAL, LLC1,1800 00For
COLDSTREAM CAPITAL MANAGEMENT INC4660 00For
Echo45 Advisors LLC00 00--

14. Amendment to the Long-Term Performance-Based Incentive Plan

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-13.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (9,910 for, 0 against).

FOR: 9,910 (100.0%)
Largest asset managers voting on “Amendment to the Long-Term Performance-Based Incentive Plan” at MDU RESOURCES GROUP INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma6,4400 00For
Virtus3,4700 00For

Largest MDU RESOURCES GROUP INC. shareholders voting in 2024-2025

Ranked by the number of MDU RESOURCES GROUP INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 204,331,170 shares outstanding at the time of that meeting.

Top MDU RESOURCES GROUP INC. shareholders by shares voted, 2024-2025
#Asset manager % of shares outstanding
1Vanguard 11.51%
2BlackRock 11.24%
3State Street 4.47%
4Dimensional 3.80%
5BARROW HANLEY MEWHINNEY & STRAUSS LLC 3.65%
6American Century 3.15%
7Bridge Builder Trust 3.07%
8Corvex Management LP 2.18%
9Charles Schwab 2.07%
10Allspring 1.83%

Reported MDU RESOURCES GROUP INC. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

MDU RESOURCES GROUP INC. beneficial owners on record for the 2024-2025 proxy season
Holder % outstanding Disclosure
BlackRock 12.62% 13F
Vanguard Group 11.45% 13F
BARROW HANLEY MEWHINNEY & STRAUSS LLC 6.73% 13G
Vanguard Portfolio Management 6.14% 13G
Dimensional Fund Advisors 4.14% 13F
State Street 3.24% 13F
Morgan Stanley 2.21% 13F
Invesco 1.53% 13F
Norges Bank 1.18% 13F
Charles Schwab 1.14% 13F

Percentages above are of 204,331,170 shares outstanding, as reported by MDU RESOURCES GROUP INC. on its Form 10-Q dated 2025-05-01 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from MDU RESOURCES GROUP INC.’s 10-Q dated 2025-05-01. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At MDU RESOURCES GROUP INC.'s shareholder meeting held 2025-05-13, in the 2024-2025 proxy season, 446 asset managers reported how they voted in their SEC Form N-PX filings, covering 3,990 separate fund positions. Their filings are grouped here into 14 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Vote, on an Advisory Basis, to Approve the Company's Named Executive Officers' compensation. — FOR was 93% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: MDU RESOURCES GROUP INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-05-15.

MDU RESOURCES GROUP INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.