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 $0.48 per share to $0.535 per share. The Board’s action raises the 2022 annualized dividend by $0.22 from $1.92 to $2.14 per share, an 11.5 percent increase. The $0.535 per share dividend will be payable July 5, 2022 to all shareholders of record at the close of business on June 15, 2022.

“Despite the lingering global pandemic and market challenges throughout 2021, our teams executed exceptionally well and delivered our 15th consecutive year of earnings growth,” commented Jeff Householder, president and CEO. “Our strong financial results are a testament to our proven growth strategy and prudent approach to capital allocation. As we look ahead, we remain focused on achieving our earnings and capital expenditure targets by growing our underlying businesses and investing in new opportunities – especially those that position Chesapeake Utilities to play an increasing role in the country’s continuing energy transition.