Black Hills Corp. Announces Quarterly Dividend Increase

Black Hills Corp. (NYSE: BKH) today announced that its board of directors approved a quarterly dividend of $0.65 per share, an increase of $0.025 per share over last quarter’s dividend. Common shareholders of record at the close of business on Feb. 16, 2024, will receive $0.65 per share, payable March 1, 2024.

“This dividend increase showcases our long-standing commitment to reward shareholders with a sustainable, growing dividend,” said Linn Evans, president and CEO of Black Hills Corp. “The increase reflects the confidence we have in the future of Black Hills and our ability to deliver long-term shareholder value through dynamic economic cycles and the continuous evolution within our industry.”

The new annualized rate represents 54 consecutive years of annual dividend increases and is the second longest track record in the electric and natural gas utility industry.

This dividend announcement marks 82 consecutive years that Black Hills has paid annual dividends, starting in February 1942 when its predecessor company, Black Hills Power & Light Company, was newly incorporated.

Black Hills CorporationBlack Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.33 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.

Investor RelationsJerome E. [e-mail]

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