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Chesapeake Utilities Corporation Reports First Quarter 2024 Results
Earnings per share ("EPS")* for the first quarter of 2024 was $2.07 compared to $2.04 per share for the first quarter of 2023 Adjusted EPS** for the first quarter of 2024, which excludes transaction and transition-related expenses attributable to the acquisition and integration of Florida City Gas ("FCG"), increased by three percent to $2.10 compared to $2.04 per share for the first quarter of 2023 Adjusted gross margin** growth of $35.0 million during the first quarter driven by contributions from FCG, natural gas organic growth and continued pipeline expansion projects, additional customer consumption, and regulatory initiatives Completed filings for seven [...]
Chesapeake Utilities Corporation Raises Dividend by 8.5 Percent
Dover, Delaware – 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 $0.59 per share to $0.64 per share. The Board’s action raises the 2024 annualized dividend by $0.20 from $2.36 to $2.56 per share, an 8.5 percent increase. The $0.64 per share dividend will be payable July 5, 2024 to all shareholders of record at the close of business on June 14, 2024. “The Board’s decision to increase the annualized dividend rate reflects their continued confidence in our growth strategy, including [...]
Chesapeake Utilities Corporation to Acquire Florida City Gas
Transformative acquisition more than doubles operations in high-growth Florida service areas Positions CPK to execute on additional growth opportunities in regulated and unregulated businesses Supports long-term earnings and dividend growth; increases capital investment plan; financing plan maintains strong balance sheet DOVER, Del. - Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or “the Company”) today announced it has entered into a definitive agreement to acquire Florida City Gas (“FCG”) from NextEra Energy, Inc. (NYSE: NEE) for $923 million in cash. Upon closing of the transaction, which is expected to occur by the end of the fourth quarter of 2023, FCG will [...]
Chesapeake Utilities Corporation Publishes 2022 Sustainability Report
Advancements in environmental stewardship, engagement and governance DOVER, Del. – Chesapeake Utilities Corporation (NYSE: CPK) today released its 2022 Sustainability Report, which highlights the Company’s progress on environmental sustainability goals; investment in employee and community engagement; and excellence in corporate governance. "We believe the energy transition presents additional growth opportunities for Chesapeake Utilities Corporation, and we continue to be transparent about our commitments and progress in the areas of environmental stewardship, employee and community engagement and corporate governance,” said Jeff Householder, president and chief executive officer. “Our continued advancements in regards to these commitments is a testament to the work [...]
Chesapeake Utilities Corporation Board of Directors Appoints Jeffry M. Householder as Chair of the Board and Thomas J. Bresnan as Independent Lead Director GalleryChesapeake Utilities Corporation Board of Directors Appoints Jeffry M. Householder as Chair of the Board and Thomas J. Bresnan as Independent Lead Director
Chesapeake Utilities Corporation Board of Directors Appoints Jeffry M. Householder as Chair of the Board and Thomas J. Bresnan as Independent Lead Director
Retiring Directors John R. Schimkaitis, Calvert A. Morgan, Jr., and Dianna F. Morgan Honored DOVER, Del. – Chesapeake Utilities Corporation (NYSE: CPK) announces that the Board of Directors appointed Jeffry M. Householder, the Company’s president and chief executive officer, as chair of the Board and Thomas J. Bresnan as the independent lead director of the Board, effective May 3. Bresnan has served as an independent director of the Company since 2001, chair of the audit committee since 2004, and a member of the investment committee since 2016. Householder succeeds John R. Schimkaitis, who has served as a director since [...]
Chesapeake Utilities Corporation Receives FERC Approval to Construct Additional Compression Facilities in Sussex County, Delaware
New Infrastructure Supports Peak Service Demands on Delmarva Peninsula DOVER, Del. – Chesapeake Utilities Corporation (NYSE: CPK) announced today that its subsidiary, Eastern Shore Natural Gas (ESNG), has received approval from the Federal Energy Regulatory Commission (FERC) to construct a new compressor unit at its existing facility in Sussex County, Delaware. The new compressor and associated infrastructure support growing residential, commercial and industrial demand along the Delmarva Peninsula, and provide incremental capacity needed in the coldest winter months. Since 2017, ESNG has made more than $200 million of infrastructure investments to support the significant population growth across the Delmarva Peninsula, and in [...]
