Everus Construction Group (ECG) successfully completed its spinoff from MDU Resources Group, Inc. on October 31, 2024, marking its transition into an independent publicly traded entity. As a result, ECG common stock began 'regular way' trading on the New York Stock Exchange under the ticker symbol 'ECG' on November 1, 2024.
MDU Resources stockholders received one share of ECG common stock for every four shares of MDU stock held as of the record date of October 21, 2024. This separation grants Everus direct control over its strategic direction and capital allocation, positioning it to capitalize on infrastructure demand.
Concurrently, Everus Construction Group was added to the S&P SmallCap 600 index, effective prior to the opening of trading on November 1, 2024. This inclusion is expected to enhance the company's market visibility and attract passive investment from funds tracking the index.
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