Chesapeake Utilities Corporation (CPK) to Issue Quarterly Dividend of $0.74 on July 6th

Chesapeake Utilities Corporation (NYSE:CPK) declared a quarterly dividend on Wednesday, May 6th. Stockholders 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) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend 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%annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Chesapeake Utilities has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chesapeake Utilities to earn $7.39 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 39.8%.

Chesapeake Utilities Stock Up 1.0%

Shares of CPK opened at $123.54 on Friday. The firm has a market cap of $2.96 billion, a P/E ratio of 19.80 and a beta of 0.69. Chesapeake Utilities has a 12-month low of $117.64 and a 12-month high of $140.59. The company’s 50-day moving average price is $126.22 and its 200 day moving average price is $128.01. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.09. The firm had revenue of $353.10 million for the quarter, compared to analyst estimates of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. Chesapeake Utilities’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 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, sell-side analysts forecast 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.