black hills corp (BKH) Key Developments
Black Hills Corp. Secures $1.17 Billion Bridge Term Loan to Fund SourceGas Holdings LLC Acquisition
Aug 13 15
Black Hills Corp. has entered into a bridge term loan agreement that provides for a $1.17 billion senior unsecured facility to fund its pending acquisition of SourceGas Holdings LLC. The loan will terminate earlier of one year from the loan funding date or upon full payment. Credit Suisse AG, Cayman Island Branch acted as the administrative agent, while Credit Suisse Securities (USA) LLC served as the sole lead arranger and sole bookrunner.
Black Hills Corporation Names Mark A. Schober as Directors, Effective Sept. 1, 2015
Aug 11 15
Black Hills Corporation announced that Mark A. Schober has been appointed to its board of directors, effective Sept. 1, 2015, and will serve on the board's audit committee. Schober most recently served as senior vice president and chief financial officer for ALLETE, Inc. from 2006 until his retirement in 2014. Mark has more than 37 years of experience in various finance and accounting positions in the utility industry.
Black Hills Corp. Reports Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Provides earnings guidance for the year of 2015; reports impairment charges for the second quarter ended June 30, 2015
Aug 5 15
Black Hills Corp. reported consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $272.3 million compared to $283.3 million a year ago. Operating loss was $38.9 million compared to operating income of $47.3 million for the same period in the last year. Net loss was $41.8 million or $0.46 per diluted share against net income of $20.3 million or $0.46 per diluted share for the same period in the last year. Net income, as adjusted was $24.9 million or $0.56 per diluted share against $20.3 million or $0.46 per diluted share for the same period in the last year.
For the six months, the company reported revenue of $714.2 million compared to $743.4 million a year ago. Operating income was $31.6 million compared to $138.1 million for the same period in the last year. Net loss was $8.0 million or $0.18 per diluted share against net income of $69.0 million or $1.55 per diluted share for the same period in the last year. Net income, as adjusted was $73.0 million or $1.64 per diluted share against $69.0 million or $1.55 per diluted share for the same period in the last year.
For the quarter, the company reported Impairment of long-lived assets of $94.5 million.
The company reaffirms its guidance for 2015 earnings, as adjusted, to be in the range of $2.80 to $3.00 per share.
Black Hills Corporation, Board Meeting, Jul 28, 2015
Jul 29 15
Black Hills Corporation, Board Meeting, Jul 28, 2015. Agenda: To declare quarterly dividend.
Black Hills Corp. Declares Quarterly Dividend on Common Stock, Payable on Sept. 1, 2015
Jul 28 15
Black Hills Corp. announced that its board of directors declared a quarterly dividend on the common stock at a meeting held July 28, 2015. Common shareholders of record at the close of business on Aug. 18, 2015, will receive $0.405 per share, payable on Sept. 1, 2015.