Chesapeake Utilities Corporation (NYSE:CPK) Plans Quarterly Dividend of $0.73

Chesapeake Utilities Corporation (NYSE:CPK) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.7350 per share by the utilities provider on Tuesday, January 5th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 15th.

Chesapeake Utilities has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 22 years. Chesapeake Utilities has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chesapeake Utilities to earn $7.35 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 40.0%.

Chesapeake Utilities Trading Up 0.2%

Shares of NYSE:CPK opened at $141.92 on Friday. Chesapeake Utilities has a one year low of $118.88 and a one year high of $145.54. The stock has a market capitalization of $3.42 billion, a PE ratio of 22.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.28. The company’s 50-day moving average price is $131.45 and its two-hundred day moving average price is $129.52.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.04). The company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $193.31 million. Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that Chesapeake Utilities will post 6.40 EPS for the current fiscal year.

About Chesapeake Utilities

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.