Welcome to our dedicated page for Chesapeake Utilities news (Ticker: $CPK), a resource for investors and traders seeking the latest updates and insights on Chesapeake Utilities stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Chesapeake Utilities's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Chesapeake Utilities's position in the market.
Chesapeake Utilities reported strong financial results for the first quarter of 2024, with an EPS of $2.07 and adjusted EPS of $2.10, showing a three percent increase year-over-year. The company saw adjusted gross margin growth of $35.0 million, driven by contributions from Florida City Gas (FCG), natural gas organic growth, pipeline expansion projects, and regulatory initiatives. Despite warmer temperatures impacting operating income, net income for Q1 2024 was $46.2 million, up from $36.3 million in Q1 2023.
Chesapeake Utilities (CPK) announced an 8.5% increase in its quarterly cash dividend, raising it from $0.59 to $0.64 per share. The annualized dividend rises from $2.36 to $2.56 per share, reflecting the Board of Directors' confidence in the company's growth strategy. The dividend will be payable on July 5, 2024, to shareholders of record as of June 14, 2024.
