Financial & Corporate News
CHESAPEAKE UTILITIES CORPORATION BOARD OF DIRECTORS APPOINTS JOHN R. SCHIMKAITIS CHAIRMAN OF THE BOARD
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake”) today announced that on May 6, 2015, its Board of Directors appointed John R. Schimkaitis to serve as Chairman of the Board, effective May 6, 2015.
CHESAPEAKE UTILITIES CORPORATION REPORTS HIGHER EARNINGS FOR THE FIRST QUARTER
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today reported first quarter financial results. The Company's net income for the three months ended March 31, 2015 was $21.1 million, or $1.44 per share. This represents an increase of $3.4 million, or $0.22 per share, over the same quarter in 2014. “We are off to a great start in 2015. Continued growth from natural gas service expansions, customer growth and the impact of regulatory initiatives, such as the Florida Gas Reliability Infrastructure Program ("GRIP") and a base rate adjustment, contributed to our strong performance. In addition, our results were further aided [...]
CHESAPEAKE UTILITIES CORPORATION RAISES DIVIDEND BY 6.5 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 $0.27 per share to $0.2875 per share. The Board’s action raises the annualized dividend $0.07 per share from $1.08 per share to $1.15 per share, which represents a 6.5 percent increase. The $0.2875 per share dividend will be payable July 6, 2015 to all shareholders of record at the close of business on June 15, 2015. The current annualized dividend increase of $0.07 per share (which is on a [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW FIRST QUARTER 2015 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, May 8, 2015, at 10:30 a.m. ET to discuss the Company’s financial results for the first quarter ended March 31, 2015. The earnings press release will be issued on Wednesday, May 6, 2015, before the market opens. To participate in this call, dial 866.821.5457 and reference Chesapeake Utilities Corporation’s 2015 First 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 [...]
CHESAPEAKE UTILITIES CORPORATION COMPLETES MERGER WITH GATHERCO, INC.
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake Utilities” or “Company”) today announced completion of the merger of Gatherco, Inc. (“Gatherco”) into Aspire Energy of Ohio, LLC (“Aspire Energy”), Chesapeake Utilities’ newest wholly-owned subsidiary. The transaction had an aggregate value of approximately $59.2 million.
CHESAPEAKE UTILITIES CORPORATION, FLORIDA PUBLIC UTILITIES COMPANY AND RAYONIER ADVANCED MATERIALS CELEBRATE GROUNDBREAKING OF EIGHT FLAGS ENERGY, LLC COMBINED HEAT AND POWER PLANT GalleryCHESAPEAKE UTILITIES CORPORATION, FLORIDA PUBLIC UTILITIES COMPANY AND RAYONIER ADVANCED MATERIALS CELEBRATE GROUNDBREAKING OF EIGHT FLAGS ENERGY, LLC COMBINED HEAT AND POWER PLANT
CHESAPEAKE UTILITIES CORPORATION, FLORIDA PUBLIC UTILITIES COMPANY AND RAYONIER ADVANCED MATERIALS CELEBRATE GROUNDBREAKING OF EIGHT FLAGS ENERGY, LLC COMBINED HEAT AND POWER PLANT
Chesapeake Utilities Corporation, Florida Public Utilities Company and Rayonier Advanced Materials celebrate the groundbreaking for the Eight Flags Energy, LLC Combined Heat and Power plant in Fernandina Beach, Florida. From the left: Paul Boynton, Chairman, President & Chief Executive Officer, Rayonier Advanced Materials; Jeff Householder, President, Florida Public Utilities Company; and Mike McMasters, President & Chief Executive Officer, Chesapeake Utilities Corporation. Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") is pleased to announce the groundbreaking for the new Eight Flags Energy, LLC ("Eight Flags") Combined Heat and Power ("CHP") plant. The groundbreaking ceremony was held yesterday in Fernandina Beach [...]
CHESAPEAKE UTILITIES CORPORATION WELCOMES JAMES MORIARTY AS VICE PRESIDENT, GENERAL COUNSEL AND CORPORATE SECRETARY
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that James Moriarty has joined the Company as Vice President, General Counsel and Corporate Secretary. As Vice President, General Counsel and Corporate Secretary, Mr. Moriarty will oversee the Company’s legal affairs by managing the Company’s internal legal function, and managing outside counsel. He will provide counsel on legal matters to senior management and the business units to ensure compliance with applicable laws and regulations, and advise senior management and the Board on corporate governance matters. In addition, he will provide legal advice on all major business transactions and assist [...]
CHESAPEAKE UTILITIES CORPORATION REPORTS EIGHTH CONSECUTIVE YEAR OF RECORD EARNINGS
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today announced financial results for both the year and the fourth quarter ended December 31, 2014. The Company's net income for the year ended December 31, 2014 was $36.1 million, or $2.47 per share, which represents an increase of $3.3 million, or $0.21 per share, compared to 2013. Included in the Company's 2014 results were two non-recurring items -- an after-tax gain of $4.0 million from the sale of BravePoint, Inc. ("BravePoint"), the Company's advanced information services subsidiary, and a non-cash, after-tax impairment charge of $3.9 million related to uncertainty around the implementation of [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES FLORIDA PSC APPROVALS OF PURCHASED POWER AGREEMENTS FOR FLORIDA PUBLIC UTILITIES COMPANY
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that the Florida Public Service Commission ("FPSC") has approved the Purchased Power Agreement ("PPA") signed between Chesapeake subsidiaries Florida Public Utilities Company ("FPU") and Eight Flags Energy, LLC ("Eight Flags"). Eight Flags is developing a combined heat and power plant ("CHP") in Fernandina Beach on Amelia Island in Nassau County, Florida. The plant will produce approximately 20MW of base load power, which FPU will purchase for distribution to its electric retail customers. The PPA is for a 20-year term and is expected to generate approximately $28 million in total [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Dover, Delaware -- The Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) has declared a quarterly cash dividend of $0.27 per share on the Company’s common stock. The $0.27 per share dividend will be paid on April 6, 2015 to all shareholders of record at the close of business on March 17, 2015. Chesapeake has paid a dividend to its shareholders for 54 consecutive years. The Board of Directors increased the quarterly dividend by 5.2% in May of 2014, reaffirming their continued confidence in the sustainable long-term earnings growth of the Company. Chesapeake Utilities Corporation is a diversified energy [...]
CHESAPEAKE UTILITIES CORPORATION TO HOST CONFERENCE CALL TO REVIEW 2014 FINANCIAL RESULTS
Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, March 6, 2015, at 10:30 a.m. ET to discuss the Company’s financial results for the fourth quarter and year ended December 31, 2014. The earnings press release will be issued on Thursday, March 5, 2015, before the market opens. To participate in this call, dial 866.821.5457 and reference Chesapeake Utilities Corporation’s 2014 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 [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES DEFINITIVE MERGER AGREEMENT TO ACQUIRE GATHERCO, INC.
Dover, Delaware -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities" or "Company") and Gatherco, Inc. ("Gatherco") today announced that they have entered into a merger agreement, dated as of January 30, 2015 under which Chesapeake Utilities will acquire Gatherco. Upon consummation of the transaction, Gatherco will merge into Aspire Energy of Ohio, LLC ("Aspire Energy"), a wholly-owned subsidiary of Chesapeake Utilities.
EASTERN SHORE NATURAL GAS COMPANY TO PROVIDE NATURAL GAS TRANSPORTATION SERVICE TO CALPINE’S GARRISON ENERGY CENTER
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that its natural gas transmission subsidiary Eastern Shore Natural Gas Company ("ESNG") has entered into a Precedent Agreement with Calpine Energy Services, L.P., whereby Calpine is committed to enter into a 20-year service agreement with ESNG to provide natural gas transportation service for Calpine’s new, state-of-the-art electric generating facility located in Dover, Delaware, upon the satisfaction of certain conditions. The agreement calls for ESNG to transport 45,000 dekatherms per day (dt/d) of natural gas along ESNG’s mainline to a pipeline that will service Calpine’s Garrison Energy Center, a 309 [...]
CHESAPEAKE UTILITIES CORPORATION HONORED WITH 2014 CORPORATE GOVERNANCE AWARDS
Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that it was awarded the Governance Professional of the Year and Corporate Governance Team of the Year awards for small to mid-cap sized companies at the Corporate Secretary magazine’s seventh annual Corporate Governance Award ceremony. The awards, which were presented on November 5, 2014 in New York City, recognize and celebrate individuals, teams and companies who have achieved a level of excellence in governance, risk and compliance. "I’m very proud of the entire Corporate Governance team, and we are honored to have been selected to receive such prestigious awards. [...]
CHESAPEAKE UTILITIES CORPORATION ANNOUNCES QUARTERLY DIVIDEND
Dover, Delaware -- The Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) has declared a quarterly cash dividend of $0.27 per share on the Company’s common stock. The $0.27 per share dividend will be paid on January 5, 2015 to all shareholders of record at the close of business on December 15, 2014. For more information click here.
