Black Hills Corp. Reports 2013 Fourth Quarter and Full Year Results

February 7, 2014

Black Hills Corp. (NYSE: BKH) announced 2013 fourth quarter and full year financial results. Adjusted income from continuing operations, a non-GAAP measure,* for the fourth quarter of 2013 was $31 million, or $0.70 per share, compared to $30 million, or $0.68 per share, for the same period in 2012. For the 12 months ending Dec. 31, 2013, adjusted income from continuing operations was $109 million, or $2.45 per share, compared to $92 million, or $2.09 per share, for the same period in 2012.

'We are proud of our continued strong performance and the board of directors' recent approval of our 44th consecutive annual dividend increase,' said David R. Emery, chairman, chief executive officer and president of Black Hills Corp. 'Adjusted earnings of $2.45 per share increased 17 percent compared to the prior year. Results were driven by earnings growth in our natural gas utilities, power generation and coal mining segments and lower interest expense. Our fourth quarter utility performance was stronger than expected due primarily to colder weather, helping drive earnings above our guidance range. Our solid performance was rewarded by the stock market, with Black Hills recording industry-best stock price performance in 2013.' 

Click here to read the full press release.

For more information:

Black Hills Corporation

625 Ninth St
Rapid City, South Dakota
United States, 57709-1400
Tel: 605-721-1700

Jerome Nichols, Investor Relations
Black Hills Corporation
Tel: 605-721-1171

24-hour Media Assistance
Black Hills Corporation
Tel: 866-243-9002

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