Chesapeake Utilities Corporation (NYSE:CPK) Shareholders to Collect $0.73 Quarterly Dividend

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

Chesapeake Utilities has increased its dividend payment by an average of 0.1% per year over the last three years and has increased 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 Stock Performance

NYSE CPK opened at $141.92 on Friday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 22.63 and a beta of 0.62. Chesapeake Utilities has a twelve month low of $118.88 and a twelve month high of $145.54. The stock has a fifty day simple moving average of $131.45 and a 200 day simple moving average of $129.52. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79.

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

Chesapeake Utilities Company Profile

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.