Financial & Corporate News
Food Bank of Delaware and Employees of Chesapeake Utilities Corporation Partner to Give Children and Families a Nutritious Start Back to School
Dover, DE – Chesapeake Utilities Corporation (NYSE: CPK) wrapped up its fifth annual Chesapeake Summer Cares Volunteer Program in August as more than 165 Delmarva employees and family members partnered with the Food Bank of Delaware’s Milford facility and the Maryland Food Bank – Eastern Shore in Salisbury, MD. Employees from the Company’s Chesapeake Utilities, Eastern Shore Natural Gas, Sandpiper Energy and Sharp Energy business units, as well as the corporate office, packed more than 5,300 kid-friendly, nutritious meals to be put into backpacks for children in need and sorted produce and canned goods to keep the shelves fully stocked. [...]
CHESAPEAKE UTILITIES CORPORATION TO PROVIDE NATURAL GAS TO PENINSULA REGIONAL MEDICAL CENTER COMBINED HEAT AND POWER PLANT
Dover, DE – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) will provide natural gas to power a 3MW combined heat and power (CHP) plant at Peninsula Regional Medical Center (PRMC) in Salisbury, Maryland. Representatives from Chesapeake Utilities joined hospital and state officials in a commissioning event held on August 18 where Maryland Governor Larry Hogan spoke about the economic and environmental benefits of the CHP plant. According to the Environmental Protection Agency, CHP plants currently account for 8 percent of U.S. electricity generating capacity, and are a critical tool needed to reduce carbon emissions and generate energy significant cost savings [...]
FLORIDA PUBLIC UTILITIES COMPANY ACQUIRES THE PROPANE OPERATING ASSETS OF CHIPOLA PROPANE GAS COMPANY
Fernandina Beach, Florida — Florida Public Utilities Company (FPU), a subsidiary of Chesapeake Utilities Corporation (NYSE: CPK), announced today that its propane subsidiary, Flo-Gas Corporation, has purchased the propane operating assets of Chipola Propane Gas Company in Marianna, Florida. “We are very excited to grow our propane presence in Northwest Florida as we continue to expand the scope of our services in this community,” said Kevin Webber, Vice President of FPU. “We look forward to continuing to provide safe, reliable and affordable energy services in the region.” Chipola Propane Gas, a family-owned and operated business founded in 1961, has been [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS SECOND QUARTER RESULTS
Contributions from the Eight Flags CHP Plant and continued margin growth from natural gas transmission and distribution were offset by warmer weather and expenses incurred to support growth Eastern Shore Natural Gas completed the White Oak Mainline and System Reliability Projects Second quarter net income totaled $6.0 million or $0.37 per share Year-to-date net income totaled $25.2 million or $1.54 per share Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today reported second quarter financial results. The Company's net income for the quarter ended June 30, 2017 was $6.0 million, compared to $8.0 million in [...]
Chesapeake Utilities Corporation Subsidiary Acquires the Assets of ARM Energy Management
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) announced today that its wholly-owned subsidiary, Peninsula Energy Services Company (PESCO), has acquired the assets of ARM Energy Management (AEM), a natural gas marketing company servicing commercial and industrial customers in Western Pennsylvania. PESCO is the Company’s non-regulated energy marketing business that has been providing energy services to commercial and industrial customers in the Southeast, Mid-Atlantic and Mid-West regions. “AEM’s services are an excellent strategic fit for PESCO and Chesapeake Utilities,” said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. “This acquisition will allow us to [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Dover, Delaware – Today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.325 per share on the Company’s common stock. The $0.325 per share dividend will be paid on October 5, 2017 to all shareholders of record at the close of business on September 15, 2017. Chesapeake has paid dividends to its shareholders without interruption for 56 years. During those 56 years, Chesapeake has either maintained or increased its annualized dividend. Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, gathering and processing, and marketing; electricity generation [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW SECOND QUARTER 2017 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, August 4, 2017, at 10:30 a.m. ET to discuss the Company’s financial results for the second quarter ended June 30, 2017. The earnings press release will be issued on Thursday, August 3, 2017, before the market opens. To participate in this call, dial 855.801.6270 and reference Chesapeake Utilities Corporation’s 2017 Second Quarter Financial Results Conference Call. To access the replay recording of this call, please visit the Company’s website at CPK - Conference Call Audio Replay. Chesapeake Utilities Corporation is a diversified energy company engaged [...]
EIGHT FLAGS ENERGY CHP PLANT HONORED WITH 2017 SOUTHEASTERN ELECTRIC EXCHANGE INDUSTRY EXCELLENCE AWARD
The Southeastern Electric Exchange, Inc. (SEE) recognized the Eight Flags Energy Combined Heat and Power Plant as a 2017 Industry Excellence Award winner in the Production category at the SEE Annual Conference and Trade Show in Baltimore, Maryland. Pictured from left: Bryan Olnick, VP Operations, Florida Power & Light and Chairman, Engineering & Operations Committee for SEE; Warren DiNapoli, Senior Operations Manager Northeast & Northwest Division, Florida Public Utilities; Mark Cutshaw, Director, Business Development & Generation, Florida Public Utilities; and Jim Collins, Executive Director, SEE. Dover, Delaware – The Southeastern Electric Exchange, Inc. (SEE) has recognized the Eight [...]
Chesapeake Utilities Corporation Announces Executive Appointments
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) announced today five executive appointments for team members of the corporate office as well as for the Company’s Chesapeake Utilities, Peninsula Energy Services Company (PESCO) and Sharp Energy business units. “Our Company’s growth and powerful energy is made possible through the dedication of our employees,” said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. “Each of these employees embody a great commitment to our Company’s strategic growth and our values of aspiring and caring. I am very proud to have them on our team, advancing our Company’s mission [...]
CHESAPEAKE UTILITIES CORPORATION EARNS NATIONAL SAFETY AWARD
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) announced today that its subsidiary, Florida Public Utilities Company (FPU), has earned a Safety Achievement Award from the American Gas Association (AGA) for excellence in employee safety. The selection was based on criteria that included professional and personal commitment and dedication to improving the operations and engineering sectors of the natural gas industry through safety, accident prevention and research. The awards for 2016 were presented at the AGA’s Operations Conference in Orlando, Florida. “Safety is our top priority and we are committed to promoting a positive safety culture throughout our [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST LIVE WEBCAST AT 2017 AGA FINANCIAL FORUM
Dover, Delaware – The Company announced today that Michael P. McMasters, President and CEO, and Beth W. Cooper, Senior Vice President and CFO of Chesapeake Utilities Corporation (NYSE: CPK) will be hosting a live webcast at 2:15 pm on Sunday, May 21st at the 2017 AGA Financial Forum taking place in Orlando, Florida. Webcast participants and members of the live audience will learn about the projects the Company currently has underway and other strategic initiatives which position the Company for future growth. To listen to the live webcast, visit Chesapeake‘s website at www.chpk.com, click on Investors/Events and Webcasts/Other Events then [...]
CHESAPEAKE UTILITIES CORPORATION TO EXPAND NATURAL GAS SERVICE TERRITORY IN FLORIDA
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities) announced today that the Company has entered into an agreement with Pensacola Energy to transport natural gas to the City of Pensacola and other industrial users in the surrounding area in Escambia County. This project will increase Chesapeake Utilities’ footprint in Northwest Florida while complementing its natural gas, propane and electric services throughout the state. The expansion in the Company’s Florida service territory means residents and businesses of the City of Pensacola and the surrounding area will have greater access to this clean energy option. “As our Company grows throughout [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS FIRST QUARTER RESULTS
First quarter net income totaled $19.1 million or $1.17 per share Earnings from the Eight Flags Combined Heat & Power plant, higher margin from the natural gas marketing operation and continued growth in the natural gas distribution and transmission businesses partially offset higher operating expenses and the impact of warmer weather Xeron began winding down its operations during the first quarter Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or the “Company”) today reported first quarter financial results. The Company's net income for the quarter ended March 31, 2017 was $19.1 million, compared to $20.4 million in the same [...]
CHESAPEAKE UTILITIES CORPORATION RAISES DIVIDEND BY 6.6 PERCENT
Dover, Delaware – 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 $0.305 per share to $0.325 per share. The Board’s action raises the annualized dividend $0.08 per share from $1.22 per share to $1.30 per share, which represents a 6.6 percent increase. The $0.325 per share dividend will be payable July 5, 2017 to all shareholders of record at the close of business on June 15, 2017. “The Company celebrated another great year in 2016 as it was our tenth [...]
BALTIMORE FLEET VEHICLES CAN SAVE MONEY, REDUCE EMISSIONS WITH SHARP ENERGY’S NEW AUTOGAS FUELING STATION LOCATED NEAR BWI AIRPORT
Dover, Delaware – Sharp Energy, Inc., the largest propane retailer on the Delmarva Peninsula and a subsidiary of Chesapeake Utilities Corporation (NYSE: CPK) (Chesapeake Utilities), announced today that it has constructed and placed into service an AutoGas propane fueling station for fleet vehicles located near the Baltimore/Washington International (BWI) Airport. Airport shuttles, school bus companies, and commercial fleets can use this new fueling station to power their fleets with propane, a preferred alternative fuel option that reduces emissions and yields savings. “We’re excited to add this propane fueling station to the Company’s growing network of clean, reliable and affordable energy [...]
