Chesapeake Utilities Corporation (NYSE:CPK) to Issue Quarterly Dividend of $0.74

Key Points

• Chesapeake Utilities declared a quarterly dividend of $0.735 per share (record date June 15, payable July 6), a 7.3% increase from the prior $0.69 and implying a ~2.3% yield.
• The dividend appears well covered: the company has raised its payout for 22 consecutive years and has a current payout ratio of about 40.6%, with analysts' forecasts implying an expected payout ratio near 37.1% next year.
• Chesapeake beat expectations for the quarter with $2.47 EPS (vs. $2.38 est.) and $353.1M revenue (up 18.2% YoY), and provided FY2028 EPS guidance of $7.75–$8.00.

Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Monday, June 15th will be given a dividend of 0.735 per share by the utilities provider on Monday, July 6th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, June 15th. This is a 7.3% increase from Chesapeake Utilities's previous quarterly dividend of $0.69.

Chesapeake Utilities has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 22 years. Chesapeake Utilities has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chesapeake Utilities to earn $7.39 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 37.1%.

Chesapeake Utilities Stock Down 0.0%

NYSE CPK opened at $125.81 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $128.97 and a two-hundred day moving average of $129.51. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 21.04 and a beta of 0.71. Chesapeake Utilities has a 52 week low of $115.24 and a 52 week high of $140.59.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.09. The firm had revenue of $353.10 million during the quarter, compared to analyst estimates of $339.86 million. Chesapeake Utilities had a net margin of 15.09% and a return on equity of 9.31%. The business's revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, analysts predict that Chesapeake Utilities will post 6.51 earnings per share for the current year.

About Chesapeake Utilities

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.

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