Chesapeake Utilities Corporation (NYSE:CPK) to Issue $0.69 Quarterly Dividend

Chesapeake Utilities Corporation (NYSE:CPK) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Monday, March 16th will be given a dividend of 0.685 per share by the utilities provider on Monday, April 6th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 16th.

Chesapeake Utilities has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 22 years. Chesapeake Utilities has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chesapeake Utilities to earn $6.25 per share next year, which means the company should continue to be able to cover its $2.74 annual dividend with an expected future payout ratio of 43.8%.

Chesapeake Utilities Stock Down 1.1%

Shares of CPK traded down $1.52 during mid-day trading on Thursday, hitting $132.73. 13,479 shares of the company’s stock were exchanged, compared to its average volume of 117,816. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. Chesapeake Utilities has a 52 week low of $115.24 and a 52 week high of $140.59. The company has a market cap of $3.14 billion, a PE ratio of 23.49 and a beta of 0.79. The company has a 50-day simple moving average of $127.77 and a 200 day simple moving average of $129.43.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.22). The business had revenue of $258.90 million during the quarter, compared to the consensus estimate of $208.59 million. Chesapeake Utilities had a return on equity of 9.03% and a net margin of 14.77%.The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. On average, research analysts forecast that Chesapeake Utilities will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Company Profile

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.