DOVER,
Del., May 8, 2024 /PRNewswire/ -- At their
meeting held today, the Board of Directors of Chesapeake Utilities
Corporation (NYSE: CPK) voted to increase the quarterly cash
dividend on the Company's common stock from $0.59 per share to $0.64 per share. The Board's action raises the
2024 annualized dividend by $0.20
from $2.36 to $2.56 per share, an 8.5 percent increase. The
$0.64 per share dividend will be
payable July 5, 2024 to all
shareholders of record at the close of business on June 14, 2024.
"The Board's decision to increase the annualized dividend rate
reflects their continued confidence in our growth strategy,
including our disciplined investment decisions, such as the recent
acquisition of Florida City Gas and other capital investment
opportunities across our footprint. This strategic intent,
alongside our unwavering focus on operational excellence, will
generate increased earnings, future dividend growth and greater
shareholder value," commented Jeff
Householder, chair, president and chief executive
officer.
Chesapeake has paid dividends to its shareholders without
interruption for 63 years and has increased its annualized dividend
every year since 2004.
About Chesapeake Utilities Corporation:
Chesapeake
Utilities Corporation is a diversified energy delivery company,
listed on the New York Stock Exchange. Chesapeake Utilities
Corporation offers sustainable energy solutions through its natural
gas transmission and distribution, electricity generation and
distribution, propane gas distribution, mobile compressed natural
gas utility services and solutions, and other businesses. For more
information, visit www.chpk.com.
Please note that Chesapeake Utilities Corporation has no
affiliation with Chesapeake Energy, an oil and natural gas
exploration company headquartered in Oklahoma City, Oklahoma.
For more information, contact:
Lucia Dempsey
Head of Investor Relations
ldempsey@chpk.com
347-804-9067
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SOURCE Chesapeake Utilities Corporation