Dover, Delaware – At their meeting held on May 4, 2011, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.345 per share on the Company’s common stock. The Board’s action raises the annualized dividend six cents per share from $1.32 to $1.38 per share, equating to a 4.6% increase over the prior year. The $0.345 per share dividend will be paid July 5, 2011 to all shareholders of record at the close of business on June 15, 2011.
“Chesapeake’s successful execution of our strategic plan continues to benefit our shareholders, as evident in today’s announcement to raise the dividend by 4.6% over the prior year,” stated Michael P. McMasters, President and CEO. “Investors have enjoyed a total shareholder return of 61% over the past 5 years which is exceptional when compared to any investment standard, and is reflective of our commitment to and focus on shareholder value. The Board’s action on the dividend today is also a reflection of the positive outlook we see for future growth and expansion opportunities.”
2011 represents the 50th consecutive year that Chesapeake has paid a dividend to its shareholders.
Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing; electric distribution; propane distribution and wholesale marketing; advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at https://chpk.com.
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For more information, contact:
Beth W. Cooper
Senior Vice President & Chief Financial Officer
302.734.6799
