Chesapeake Utilities Corporation Declares Quarterly Dividend of $0.69 (NYSE:CPK)

Key Points

• Chesapeake Utilities Corporation announced a quarterly dividend of $0.69 per share, with the payment scheduled for October 6th to investors recorded on September 15th, representing a yield of 2.3%.
• The company has a dividend payout ratio of 40.6%, indicating that the dividend is well-covered by earnings, with expectations for earnings of $6.25 per share in the next fiscal year.
• Chesapeake Utilities reported a 21.6% increase in quarterly revenue year-over-year, although it missed earnings estimates slightly with $2.22 earnings per share, below the expected $2.28.

Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Monday, September 15th will be given a dividend of 0.685 per share by the utilities provider on Monday, October 6th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, September 15th.

Chesapeake Utilities has a payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chesapeake Utilities to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 43.8%.

Chesapeake Utilities Stock Up 1.6%

CPK stock traded up $1.95 during midday trading on Friday, hitting $123.26. The company's stock had a trading volume of 286,456 shares, compared to its average volume of 108,037. The company has a market cap of $2.88 billion, a PE ratio of 21.97 and a beta of 0.66. Chesapeake Utilities has a 12 month low of $111.00 and a 12 month high of $136.73. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The firm's 50-day moving average is $121.32 and its 200-day moving average is $124.74.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $192.80 million for the quarter, compared to analysts' expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.37% and a net margin of 14.89%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities research analysts forecast that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.