#United States #Chesapeake Utilities #dividend increase #Dover #Shareholder Value

Chesapeake Utilities Corporation Announces Dividend Increase

Chesapeake Utilities Corporation (NYSE: CPK) has declared a 7% increase in its quarterly cash dividend, reflecting the company's ongoing dedication to enhancing shareholder return. The decision was made during a recent meeting of the Board of Directors, who unanimously agreed to raise the cash dividend from $0.64 to $0.685 per share.

This increase marks an annualized dividend rise from $2.56 to $2.74 per share, amounting to an additional $0.18 for shareholders. The new dividend rate is set to take effect for shareholders who are on record as of June 16, 2025, with payouts commencing on July 7, 2025. CEO Jeff Householder underscores that this strategic decision is a result of a balanced focus on capital investment alongside consistent earnings growth—which form the bedrock of the company's dividend policy.

Commitment to Strategic Growth

Householder noted that the dividend increase represents the Board's commitment to supporting Chesapeake Utilities' strategic growth plans. The company aims to enhance its business framework by engaging in prudent capital deployment, effective regulatory management, and ongoing transformation of its operations.

In his remarks, Householder stated, "We believe these three pillars will drive industry-leading earnings growth and support continued dividend growth, allowing us to deliver superior shareholder value for years to come." This statement clearly illustrates Chesapeake's vision for long-term sustainability and profitability, centralizing its focus on shareholder benefits while investing wisely for future growth.

Chesapeake Utilities has managed to pay dividends without interruption for an astounding 64 years, showcasing its resilience and reliability in the market. What’s more, the company has successfully increased its annual dividends each year since 2004, signifying a strong track record of financial health and commitment to rewarding investors.

About Chesapeake Utilities Corporation

Chesapeake Utilities Corporation is a diverse energy delivery entity that operates under the NYSE trading symbol: CPK. The company provides a broad spectrum of sustainable energy solutions, which include natural gas transmission, electricity generation, propane distribution, and innovative compressed natural gas services. Their operations are designed to meet the increasing demands for more sustainable energy resources while ensuring dependable service to their customers.

As the energy sector anticipates further growth and innovation, Chesapeake's robust dividend policy and commitment to shareholder returns are expected to gain even more significance. Stakeholders and investors are urged to track the company’s performance closely as it continues to implement its strategic initiatives aimed at fostering enduring value and stability in turbulent market conditions.

For additional details regarding the company's strategic frameworks and upcoming financial milestones, visit their official website at chpk.com. Should any investors or interested parties require more information, they can reach out to Lucia Dempsey, the Head of Investor Relations, at 347-804-9067.

The decision to raise dividends demonstrates Chesapeake Utilities' proactive approach in not only maintaining but also enhancing investor confidence. With a clear focus on balanced growth, the future appears bright for both the company and its shareholders.