Financial & Corporate News
Chesapeake Utilities Corporation Donating $200,000 to Support Communities During Coronavirus Response
Company providing assistance through donations and customer grant DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced the Company will donate $200,000 to support response and relief organizations assisting communities affected by the COVID-19 pandemic. The Company also announced a special one-time grant from its SHARING program for customers economically impacted by the spread of the coronavirus. The SHARING program is a nonprofit organization assisting natural gas and propane gas customers living on the Delmarva Peninsula who need financial assistance to pay their gas and propane bills. “At Chesapeake Utilities, we care about the communities we serve, and we [...]
Chesapeake Utilities Corporation to Participate In West Coast Utilities Virtual Conference Sponsored By Siebert Williams Shank & Co.
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 Siebert Williams Shank & Co. which is taking place on March 18th and 19th. Ms. Cooper and Mr. Mahn will be presenting on March 18th to interested investors with approximately 15 other utility companies slated to present over the two-day period. 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 [...]
Chesapeake Utilities Corporation Takes Actions to Protect Community During Coronavirus Pandemic
Customer Walk-in Access to Company Buildings Temporarily Suspended as a Precaution DOVER, DE – In light of the national emergency declaration over the COVID-19 pandemic, Chesapeake Utilities Corporation (NYSE: CPK) today announced the Company has taken several preventative measures to help keep employees, customers and communities safe. The Company’s Pandemic Response Plan follows the guidance and recommendations of federal, state and local governments, health authorities and relevant industry agencies. Based on recent developments, all walk-in customer access to any of Chesapeake’s natural gas, propane or electric office locations has been temporarily suspended effective at the close of business today. This [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Dover, Delaware – Today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.405 per share on the Company’s common stock. The $0.405 per share dividend will be paid on April 6, 2020 to all shareholders of record at the close of business on March 13, 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 [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS RECORD RESULTS FOR FISCAL YEAR 2019 AND UPDATES EARNINGS GUIDANCE
GAAP earnings per share ("EPS")* reached $3.96 for 2019 2019 EPS from continuing operations was a record $3.72, an increase of $0.25 or 7.2 percent over 2018 Natural gas expansion projects, customer growth and conversions generated $18.3 million in additional gross margin** in 2019 Unregulated Energy acquisitions added $6.8 million in incremental gross margin in 2019 Boulden and Elkton Gas acquisitions along with pipeline expansion projects, expected to further enhance growth going forward Successfully exited the natural gas marketing business through the sale of the assets and contracts for PESCO resulting in a pre-tax gain of $7.3 million ($5.4 million [...]
Chesapeake Utilities Corporation Announces 2020 Energy Bill Assistance Grant Levels
Dover, DE – Chesapeake Utilities Corporation (NYSE: CPK), announced today the availability of grants through its SHARING program, a nonprofit organization that provides funds to the Company’s natural gas and propane gas customers living on the Delmarva Peninsula who need financial assistance to pay their gas bills or to repair their gas appliances. Annual grants for as much as $1,000 are available to customers who meet the specific requirements. “At Chesapeake, we are committed to the communities we serve, and the SHARING program helps provide financial support to customers facing challenges during the winter months,” said Jennifer Clausius, newly appointed President [...]
Chesapeake Utilities Corporation to Participate In Mid-Atlantic Road Show Sponsored By Sidoti & Company, LLC
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 Road Show sponsored by Sidoti & Company on January 30, 2020. Ms. Cooper and Mr. Mahn will be participating in a series of scheduled one-on-one meetings with members of the investment communities in Pennsylvania and Maryland. The presentation for the conference will be 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. [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW FOURTH QUARTER AND ANNUAL 2019 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, February 27, 2020, at 4:15 p.m. ET to discuss the Company’s financial results for the fourth quarter and year ended December 31, 2019. The earnings press release will be issued on Wednesday, February 26, 2020, after the market closes. To participate in this call, dial 855.801.6270 and reference Chesapeake Utilities Corporation’s 2019 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 [...]
Chesapeake Utilities Corporation Employees Supported Local Community Through Holiday Volunteer Events
Chesapeake employees load a framed wall onto a truck during a ‘framing frenzy’ event at the Company’s Energy Lane campus in Dover. Chesapeake joined Central Delaware Habitat for Humanity and local students from Polytech High School to frame a home for a family in need. DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) today announced that employees logged approximately 5,000 hours of volunteer service with nonprofit organizations throughout the Company’s service area in 2019. Chesapeake is committed year-round to volunteering and making a positive impact in the communities where its employees live, work and serve. In [...]
FERC Approves Eastern Shore Natural Gas Company Expansion
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) announced today that the Federal Energy Regulatory Commission (FERC) has issued an order approving the Company’s proposed Del-Mar Energy Pathway Project (Docket No. CP18-548-000). The order, which was applied for in September of 2018 by Eastern Shore Natural Gas Company, Chesapeake Utilities’ interstate natural gas transmission subsidiary, approves the construction and operation of new infrastructure facilities in Kent and Sussex counties in Delaware, and Wicomico and Somerset counties in Maryland. “Bringing natural gas to a new area results in many positive enhancements for the community, both environmental and economic,” [...]
Chesapeake Utilities Corporation Subsidiary Acquires Propane Operating Assets of Boulden Brothers Propane
Dover, DE – Chesapeake Utilities Corporation (NYSE: CPK) announced today that its propane subsidiary, Sharp Energy, executed an agreement to acquire the propane operating assets of Boulden Brothers Propane in Newark, Delaware. The parties closed on this transaction on December 13, 2019. Terms of the transaction were not publicly disclosed. “This acquisition is a strategic fit for our Company as it allows Sharp Energy to further expand the availability of its propane services and resources in our existing Maryland, Delaware and Pennsylvania footprint,” said Jeff Householder, President and Chief Executive Officer of Chesapeake Utilities Corporation. “Sharp Energy has been a [...]
Chesapeake Utilities Corporation to Participate In Midwest Road Show Sponsored By Janney Montgomery Scott
DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced that Beth Cooper, Executive Vice President, Chief Financial Officer and Assistant Corporate Secretary; Michael Galtman, Vice President and Chief Accounting Officer; and Tom Mahn, Vice President and Treasurer, will be participating in a Road Show sponsored by Janney Montgomery Scott, on December 17 – 18, 2019. Ms. Cooper and Messrs. Galtman and Mahn will be participating in a series of scheduled one-on-one meetings with members of the investment communities in Chicago, Milwaukee/Madison and Kansas City. The presentation for the conference will be available on the Company’s website at www.chpk.com in [...]
Chesapeake Utilities Corporation to Acquire Elkton Gas
DOVER, DE – Chesapeake Utilities Corporation (Chesapeake Utilities) (NYSE: CPK) and South Jersey Industries (SJI) (NYSE: SJI) today announced they have entered into an agreement, dated Dec. 5, 2019, under which Chesapeake Utilities will acquire SJI subsidiary Elkton Gas, which operates in Cecil County, Maryland. Upon completion of the transaction, Elkton Gas will become a wholly-owned subsidiary of Chesapeake Utilities. The transaction was approved by the SJI Board of Directors and by Chesapeake Utilities’ Investment Committee, which is comprised of five of the Company’s Board members. The acquisition, which is expected to close in the first half of 2020, is [...]
Jeffrey Sylvester Joins Chesapeake Utilities Corporation as Senior Vice President
Jeffrey Sylvester, Senior Vice President DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) today announced that Jeffrey Sylvester has joined the Company as Senior Vice President responsible for the Company’s natural gas transmission and regulated distribution businesses. In his new role, Mr. Sylvester will be responsible for the Company’s regulated operations including the interstate natural gas transmission pipeline and distribution businesses on the Delmarva Peninsula; the intrastate natural gas pipeline and natural gas and electric distribution businesses in Florida; and the unregulated natural gas pipeline infrastructure operation in Ohio. The customer care operation that services customers [...]
Chesapeake Utilities Corporation President and CEO Jeff Householder to Speak at 2019 Florida Women in Energy Leadership Forum
Jeffrey M. Householder, President & Chief Executive Officer DOVER, DE – Chesapeake Utilities Corporation (NYSE: CPK) today announced that its President and CEO, Jeff Householder, will take part in a ‘fireside chat’ at the 2019 Florida Women in Energy Leadership Forum (FWELF) being held in St. Petersburg, Florida from December 4-6, 2019. Former U.S. Senator George S. LeMieux will be the moderator for the conversation. The theme for the 2019 forum is “Champions in Energy” with a focus on informing, inspiring and motivating women across the energy industry. Now in its fourth year, FWELF was launched to celebrate [...]
