Chesapeake Utilities Corporation (NYSE:CPK) to Issue Quarterly Dividend of $0.73

Key Points

• Chesapeake Utilities declared a quarterly dividend of $0.735 per share, payable October 5 to shareholders of record on September 14, representing an annualized yield of approximately 2.2%.
• The company has raised its dividend for 22 consecutive years, with a current payout ratio of 43.6%, indicating the dividend is supported by earnings.
• Shares fell 1.0% to $132.22 after quarterly earnings of $1.05 per share slightly missed analyst expectations, although revenue rose 4.7% year over year to $201.9 million.

Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Monday, September 14th will be paid a dividend of 0.735 per share by the utilities provider on Monday, October 5th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 14th.

Chesapeake Utilities has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Chesapeake Utilities has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Chesapeake Utilities to earn $7.37 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 39.9%.

Chesapeake Utilities Stock Down 1.0%

Shares of CPK traded down $1.28 during mid-day trading on Friday, hitting $132.22. The company's stock had a trading volume of 69,181 shares, compared to its average volume of 158,516. Chesapeake Utilities has a 52-week low of $118.88 and a 52-week high of $140.83. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 21.19 and a beta of 0.68. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. The company's 50-day moving average is $127.14 and its 200-day moving average is $128.19.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $198.91 million. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.Chesapeake Utilities's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, equities research analysts forecast that Chesapeake Utilities will post 6.46 EPS for the current fiscal year.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation NYSE: CPK is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source