Financial & Corporate News
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.44 per share on the Company’s common stock. The $0.44 per share dividend will be paid on October 5, 2020 to all shareholders of record at the close of business on September 15, 2020. Chesapeake has paid dividends to its shareholders without interruption for 59 years. During those 59 years, Chesapeake has either maintained or increased its annualized dividend. Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution and transmission; electricity generation and distribution; propane gas distribution and other [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS SECOND QUARTER 2020 RESULTS
Earnings per share ("EPS")* was $0.66 for the second quarter of 2020 compared to $0.50 for the second quarter of 2019 Year-to-date EPS increased to $2.42 from $2.25, for the prior year period Second quarter and year-to-date EPS from continuing operations was $0.64 and $2.41, respectively, compared to $0.54 and $2.30, respectively, for the corresponding periods in 2019 Strong performance for the first half of 2020 driven by continued growth in the Company's businesses, the addition of the Boulden acquisition, expense management and gains from two property sales overcame milder weather and the net impact of COVID-19 Regulatory proceeding for [...]
Chesapeake Utilities Corporation Completes Acquisition of Elkton Gas
DOVER, DE – Chesapeake Utilities Corporation (Chesapeake Utilities) (NYSE: CPK) announced today the completion of its acquisition of Elkton Gas from South Jersey Industries (SJI) (NYSE: SJI). With all closing conditions now satisfied, Elkton Gas becomes the newest wholly-owned subsidiary of Chesapeake Utilities. Chesapeake Utilities recently announced final regulatory approval from the Maryland Public Service Commission for the acquisition. Incorporated in 1863, Elkton Gas delivers safe, reliable and affordable natural gas to approximately 7,000 residential and commercial customers within a franchised area of Cecil County, Maryland. Elkton Gas will continue to operate out of its existing office with the same [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW SECOND QUARTER 2020 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, August 6, 2020, at 4:00 p.m. ET to discuss the Company’s financial results for the second quarter of 2020. The earnings press release will be issued on Wednesday, August 5, 2020, after the market closes. To participate in this call, dial toll-free 877.224.1468 and reference Chesapeake Utilities Corporation’s 2020 Second Quarter Financial Results Conference Call. To access the replay recording of this call, please visit the Company’s website at CPK - Conference Call Audio Replay. Chesapeake Utilities Corporation is a diversified energy delivery company, listed [...]
Chesapeake Utilities Corporation Announces Maryland PSC Approval of Elkton Gas Acquisition
DOVER, DE – Chesapeake Utilities Corporation (Chesapeake Utilities) (NYSE: CPK) announced today that it has received regulatory approval from the Maryland Public Service Commission for the pending acquisition of Elkton Gas from South Jersey Industries (SJI) (NYSE: SJI). Assuming all closing conditions are satisfied, the transaction is anticipated to close by August 1, 2020, at which time Elkton Gas will become the newest wholly-owned subsidiary of Chesapeake Utilities. The agreement between Chesapeake Utilities and SJI was entered into on December 5, 2019. Incorporated in 1863, Elkton Gas delivers safe, reliable and affordable natural gas to approximately 7,000 residential and commercial [...]
Chesapeake Utilities Corporation Partners with CleanBay Renewables to Increase Sustainable Energy in the Delmarva Community
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today announced a new partnership with CleanBay Renewables Inc. (CleanBay), an enviro-tech company focused on the production of sustainable renewable natural gas, which will generate greenhouse gas credits associated with vehicular usage, and provide Chesapeake Utilities the opportunity to bring additional renewable natural gas to its Delmarva operations. Under the arrangement, Chesapeake Utilities Corporation will transport the renewable natural gas produced at CleanBay’s planned Westover, Maryland bio-refinery, to Chesapeake Utilities’ natural gas infrastructure in the Delmarva region. The renewable natural gas generated at CleanBay’s Westover facility will reach the market through the [...]
Chesapeake Utilities Corporation Announces Next Steps in its Sustainable Renewable Natural Gas Strategy
Dover, Delaware — Chesapeake Utilities Corporation (CPK), a NYSE-listed diversified energy delivery company, announced today that the Company is progressing on multiple opportunities that will advance its Renewable Natural Gas (RNG) strategy. The first such opportunity represents a partnership between Chesapeake Utilities and Bioenergy DevCo (BDC), a leading global developer of anaerobic digestion facilities that create renewable energy and healthy soil products from organic material. The joint project involves removing excess organics from poultry waste and converting it into RNG. The intent is for BDC and Chesapeake Utilities Corporation affiliates Eastern Shore Natural Gas, Chesapeake Utilities and Marlin Gas Services, [...]
CHESAPEAKE UTILITIES CORPORATION (NYSE: CPK) REITERATES IT IS NOT AFFILIATED WITH CHESAPEAKE ENERGY CORPORATION
Chesapeake Utilities Corporation (“Chesapeake Utilities”) is an energy delivery company publicly traded on the New York Stock Exchange under the ticker symbol “CPK” (NYSE:CPK). As previously disclosed, Chesapeake Utilities is not, nor has it ever been, affiliated with Chesapeake Energy Corporation. Chesapeake Utilities Corporation is headquartered in Delaware with operations primarily in the Mid-Atlantic region, Florida and Ohio. Chesapeake Utilities’ operations consist of a diversified portfolio of energy delivery businesses including natural gas distribution and transmission; electricity generation and distribution; propane gas operations; mobile Compressed Natural Gas services; and other businesses. Chesapeake Utilities recently announced its latest project which includes [...]
Bioenergy Devco and Chesapeake Utilities Corporation Partner To Bring Renewable Natural Gas to Customers on the Delmarva Peninsula
Program uses excess poultry organics to create sustainable, carbon-negative energy source to augment utility portfolios COLUMBIA, MD – JUNE 4, 2020 – Bioenergy DevCo (BDC), a leading global developer of anaerobic digestion facilities that create renewable energy and healthy soil products from organic material, announced today that it has entered into an agreement with Chesapeake Utilities Corporation (CPK), a NYSE-listed diversified energy company, on a project to remove excess organics from the poultry industry and convert it into renewable natural gas. The intent is for BDC and Chesapeake Utilities Corporation affiliates Eastern Shore Natural Gas, Chesapeake Utilities and Marlin Gas [...]
Chesapeake Utilities Corporation Announces New Officer Appointments
Danielle Mulligan DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK), announced today the appointment of Danielle Mulligan to Assistant Vice President of Communications and Marketing for Chesapeake Utilities Corporation and Kevin McCrackin to Assistant Vice President of Business Development for Chesapeake Utilities Corporation and Vice President of Marlin Gas Services. Ms. Mulligan is responsible for overseeing the Company’s communications campaigns to drive internal and external transparency, shape public and energy industry discussions and develop and enhance the Company’s reputation. Mr. McCrackin oversees Marlin Gas Services, the Company’s mobile CNG transportation business, and the coordination of various business development [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST LIVE WEBCAST DURING 2020 AGA VIRTUAL FINANCIAL FORUM
Dover, Delaware – The Company announced today that Jeffry M. Householder, President & CEO, Beth W. Cooper, Executive Vice President & CFO, and James F. Moriarty, Executive Vice President, General Counsel, Corporate Secretary and Chief Policy & Risk Officer of Chesapeake Utilities Corporation (NYSE: CPK) will be hosting a live webcast at 11:00 am EST (Eastern Standard Time) on Tuesday, May 19th during the 2020 AGA Financial Forum. Webcast participants will learn about the projects the Company currently has underway and other strategic initiatives which position the Company for future growth. To listen to the live webcast, visit Chesapeake‘s website [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS FIRST QUARTER 2020 RESULTS
GAAP earnings per share ("EPS")* was $1.76 for the first quarter of 2020 compared to $1.74 for the first quarter of 2019 Strong performance driven by continued growth in the Company’s businesses, coupled with two property sales, offset the negative impact of weather and the absence of regulatory relief from the pending Hurricane Michael limited proceeding Natural gas expansion projects and customer growth generated $2.1 million in additional gross margin** Boulden acquisition generated $1.9 million in additional gross margin Warmer weather reduced current quarterly earnings by $0.19 per share compared to the first quarter of 2019 and by $0.23 per [...]
CHESAPEAKE UTILITIES CORPORATION RAISES DIVIDEND BY 8.6 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 $0.405 per share to $0.44 per share. The Board’s action raises the 2020 annualized dividend $0.14 per share from $1.62 to $1.76 per share, which represents an 8.6 percent increase. The $0.44 per share dividend will be payable July 6, 2020 to all shareholders of record at the close of business on June 15, 2020. “We continue to seek opportunities to reinvest our retained earnings while also growing our [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW FIRST QUARTER 2020 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, May 7, 2020, at 4:30 p.m. ET to discuss the Company’s financial results for the first quarter of 2020. The earnings press release will be issued on Wednesday, May 6, 2020, after the market closes. To participate in this call, dial 855.801.6270 and reference Chesapeake Utilities Corporation’s 2020 First Quarter Financial Results Conference Call. To access the replay recording of this call, please visit the Company’s website at CPK - Conference Call Audio Replay. Chesapeake Utilities Corporation is a diversified energy company engaged in natural [...]
Chesapeake Utilities Corporation to Participate In SunTrust Robinson Humphrey Midstream Summit
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced that Beth Cooper, Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary and Tom Mahn, Vice President and Treasurer, will be participating in a virtual conference sponsored by SunTrust Robinson Humphrey on April 7, 2020. Ms. Cooper and Mr. Mahn will provide one-on-one virtual presentations to separate investors. Chesapeake’s presentation for the conference is available on the Company’s website at www.chpk.com in the “Investors” section under the sub-tab “Events and Presentations” and the Investor Relations App. About Chesapeake Utilities Corporation Chesapeake Utilities Corporation is a diversified energy company engaged [...]
