Financial & Corporate News

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake") announced today that it has sold its BravePoint, Inc. ("BravePoint") subsidiary, a provider of advanced information technology services and solutions, to Progress Software Corporation ("Progress") for approximately $12 million in cash, which represents approximately 0.63 times BravePoint’s 2013 revenues. BravePoint’s expertise and solid reputation in the markets it serves makes Progress an excellent strategic fit for BravePoint’s business. For more informaton please click here.

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake”) announced today that its subsidiary, Eight Flags Energy, LLC (“Eight Flags”), is pursuing the development and construction of a combined heat and power plant in Fernandina Beach on Amelia Island in Nassau County, Florida. The plant will be built on a site to be leased from Rayonier Performance Fibers, LLC (“Rayonier Performance Fibers”), a subsidiary of Rayonier Advanced Materials, Inc. (“Rayonier Advanced Materials”). The site is adjacent to a cellulose specialties plant that Rayonier Performance Fibers operates. The combined heat and power plant will generate steam that will be sold to [...]

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) (“Chesapeake”) today announced that Dr. Ronald G. Forsythe Jr., President, Chief Operating Officer and Interim Chief Information Officer of Quality Health Strategies (“QHS”), was appointed to Chesapeake’s Board of Directors effective November 1, 2014. "We welcome the addition of Ron to our Board," said Ralph J. Adkins, Chairman of Chesapeake’s Board of Directors. "Beyond his strong relationships across the Delmarva Peninsula, he also brings expertise in many different areas, including strategic and tactical planning, information technology, engineering, renewable energy, economic and workforce development and healthcare, all of which are beneficial as the [...]

Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, August 8, 2014, at 10:00 a.m. ET to discuss the Company’s financial results for the second quarter ended June 30, 2014. The earnings press release will be issued on Thursday, August 7, 2014, before the market opens. To participate in this call, dial 866.821.5457 and reference Chesapeake Utilities Corporation’s 2014 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 Replayor download the replay on your mobile device by accessing [...]

At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) 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 October 6, 2014 to all shareholders of record at the close of business on September 15, 2014. The Company announced a three for two stock split in the form of a stock dividend on July 2, 2014. The stock split will be issued on September 8, 2014, approximately a week before the dividend record date. For the dividend paid on July 7, [...]

Second quarter net income increased to $5.1 million, or $0.53 per share Natural gas system expansions and other customer growth generated $2.1 million in additional gross margin Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today reported second quarter financial results. The Company's net income for the three months ended June 30, 2014 was $5.1 million, or $0.53 per share. This represents an increase of $778,000, or $0.08 per share, over the same quarter in 2013. For the six months ended June 30, 2014, the Company reported net income of $22.8 million, or $2.35 per share. This represents an increase [...]

Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) today announced that its Board of Directors has approved a three-for-two stock split of the Company’s outstanding common stock. The stock split will be effected in the form of a stock dividend entitling each stockholder as of the record date to receive one additional share of common stock for every two shares of common stock owned. The stock dividend will be issued on September 8, 2014 to all stockholders of record at the close of business on August 13, 2014. “The stock split highlights the exceptional value Chesapeake has delivered to stockholders [...]

Dover, Delaware – At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) voted to increase the quarterly cash dividend from $0.385 per share to $0.405 per share on the Company’s common stock. The Board’s action raises the annualized dividend eight cents per share from $1.54 to $1.62 per share, equating to a 5.2 percent increase over the prior year. The $0.405 per share dividend will be paid July 7, 2014 to all shareholders of record at the close of business on June 16, 2014. “We continue to be energized by the growth prospects we [...]

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, 2014 was $17.7 million, or $1.82 per share. This represents an increase of $2.8 million, or $0.28 per share, over the same quarter in 2013. “We begin 2014 with another great quarter of financial results and growth. Our first quarter results reflect positive contributions from natural gas service expansions and acquisitions completed in 2013, as well as additional gross margin generated from colder temperatures,” stated Michael P. McMasters, President and Chief Executive Officer of Chesapeake [...]

Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Thursday, May 8, 2014, at 10:30 a.m. ET to discuss the Company’s financial results for the first quarter ended March 31, 2014. The earnings press release will be issued on Tuesday, May 6, 2014, before the market opens. To participate in this call, dial 866.821.5457 and reference Chesapeake Utilities Corporation’s 2014 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 [...]

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today announced financial results for both the year and the fourth quarter ended December 31, 2013. The Company's net income for the year ended December 31, 2013 was $32.8 million, or $3.39 per share. This represents an increase of $3.9 million, or $0.40 per share, compared to 2012. For the fourth quarter of 2013, the Company reported net income of $9.7 million, or $1.00 per share. This represents a decrease of $174,000, or $0.02 per share, compared to the same quarter in 2012. Chesapeake Utilities Corporation is a diversified utility company engaged [...]

  Dover, Delaware – At their meeting held on March 5, 2014, the Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) declared a quarterly cash dividend of $0.385 per share on the Company’s common stock. The $0.385 per share dividend will be paid on April 7, 2014 to all shareholders of record at the close of business on March 17, 2014. Chesapeake has paid a dividend to its shareholders for 52 consecutive years. The Board of Directors increased the quarterly dividend by 5.5% in May of 2013, reaffirming their continued confidence in the sustainable long-term earnings growth of the [...]

Dover, Delaware – Chesapeake Utilities Corporation (NYSE: CPK) will host a conference call on Friday, March 7, 2014, at 10:30 a.m. ET to discuss the Company’s financial results for the fourth quarter and year ended December 31, 2013.  The earnings press release will be issued on Thursday, March 6, 2014, before the market opens. To participate in this call, dial 866.821.5457 and reference Chesapeake Utilities Corporation’s 2013 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 [...]