1. Chesapeake Utilities raises quarterly dividend from $0.64 to $0.685 per share. 2. The annualized dividend increases 7% to $2.74, reflecting strong earnings growth. 3. Company has consistently paid dividends for 64 years without interruption. 4. Commitment to strategic growth plan emphasizes capital investment and regulated strategies. 5. CEO emphasizes continuous transformation to drive shareholder value.
The increase in dividends signifies strong financial health and growth potential. Historically, dividend increases positively influence stock prices, attracting investors.
The article discusses a significant increase in dividends, which is a key driver of stock valuations. This could attract income-focused investors and bolster the stock price.
Dividend announcements often lead to immediate stock price reactions. Investors may respond positively before the payable date in July, impacting short-term movements.
DOVER, Del., May 7, 2025 /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 $0.64 per share to $0.685 per share. The Board's action raises the 2025 annualized dividend by $0.18 from $2.56 to $2.74 per share, a 7 percent increase. The $0.685 per share dividend will be payable July 7, 2025 to all shareholders of record at the close of business on June 16, 2025.
"The Board's decision to increase the annualized dividend rate reflects our balanced focus on continued capital investment as well as sustained dividend growth supported by earnings growth. The dividend increase reinforces the Board's commitment to our strategic growth plan, as we remain focused on prudently deploying capital, proactively managing our regulatory strategy and continuously transforming our business operations. We believe these three pillars will drive industry-leading earnings growth and support continued dividend growth, enabling us to deliver superior shareholder value for years to come," commented Jeff Householder, chair, president and chief executive officer.
Chesapeake Utilities has paid dividends to its shareholders without interruption for 64 years and has increased its annualized dividend every year since 2004.
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange (NYSE:CPK). 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.
Lucia Dempsey
Head of Investor Relations
[email protected]
347-804-9067
SOURCE Chesapeake Utilities Corporation