Chesapeake Utilities Corporation Raises Dividend by 7 Percent

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Chesapeake Utilities Corporation (NYSE: CPK) has announced a 7% increase in its quarterly dividend from $0.64 to $0.685 per share. The new dividend will be payable on July 7, 2025, to shareholders of record as of June 16, 2025. This increase raises the 2025 annualized dividend by $0.18, from $2.56 to $2.74 per share.

The company has maintained an impressive track record of paying dividends without interruption for 64 years and has consistently increased its annualized dividend every year since 2004. CEO Jeff Householder emphasized that this increase aligns with their strategic growth plan focused on capital deployment, regulatory strategy management, and business operations transformation.

[ "7% increase in quarterly dividend from $0.64 to $0.685 per share", "64-year track record of uninterrupted dividend payments", "21 consecutive years of dividend increases since 2004", "Management's commitment to strategic growth and capital deployment" ]

DOVER, Del., May 7, 2025 /PRNewswire/ -- At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) voted to increase the quarterly cash dividend on the Company's common stock from $0.64 per share to $0.685 per share. The Board's action raises the 2025 annualized dividend by $0.18 from $2.56 to $2.74 per share, a 7 percent increase. The $0.685 per share dividend will be payable July 7, 2025 to all shareholders of record at the close of business on June 16, 2025.

"The Board's decision to increase the annualized dividend rate reflects our balanced focus on continued capital investment as well as sustained dividend growth supported by earnings growth.  The dividend increase reinforces the Board's commitment to our strategic growth plan, as we remain focused on prudently deploying capital, proactively managing our regulatory strategy and continuously transforming our business operations. We believe these three pillars will drive industry-leading earnings growth and support continued dividend growth, enabling us to deliver superior shareholder value for years to come," commented Jeff Householder, chair, president and chief executive officer.

Chesapeake Utilities has paid dividends to its shareholders without interruption for 64 years and has increased its annualized dividend every year since 2004.

About Chesapeake Utilities Corporation:
Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange (NYSE:CPK). Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, visit www.chpk.com.

For more information, contact:
Lucia Dempsey
Head of Investor Relations
ldempsey@chpk.com
347-804-9067

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SOURCE Chesapeake Utilities Corporation

FAQ

What is the new quarterly dividend amount for Chesapeake Utilities (CPK) in 2025?

Chesapeake Utilities' new quarterly dividend is $0.685 per share, increased from $0.64 per share, payable on July 7, 2025.

How much did Chesapeake Utilities (CPK) increase its dividend in 2025?

Chesapeake Utilities increased its dividend by 7%, raising the annualized dividend by $0.18 from $2.56 to $2.74 per share.

When will CPK's new dividend be payable and who is eligible?

The new dividend will be payable on July 7, 2025, to shareholders of record at the close of business on June 16, 2025.

How long has Chesapeake Utilities (CPK) been paying dividends?

Chesapeake Utilities has paid dividends without interruption for 64 years and has increased its annualized dividend every year since 2004.