Why Invest In CPK?
With many opportunities for long-term growth, the Company is focused on generating increased shareholder value well into the future. When making an investment decision, investors consider past performance, present initiatives and potential future opportunities for growth. Chesapeake Utilities Corporation’s strong performance demonstrates our employees’ continuous collaboration and relentless focus to deliver essential services with safety at the forefront each and every day. The safety of our employees, customers and communities is an unwavering priority with equal attention to environmental stewardship and engagement of our employees. As a trusted and responsible energy provider, Chesapeake Utilities Corporation is built upon a legacy of caring and is committed to making positive contributions to the economic prosperity and sustainability of its communities. Our employees collaborate across our businesses to understand customers’ challenges, identify innovative solutions, and pursue growth opportunities within our existing businesses as well as in new markets. Within this process, we adhere to a disciplined business approach as we expand our energy services and extend our geographic footprint, providing customers with multiple energy solutions.
Energized, Engaged Employees
With the financial and operational strength of the Company, a comprehensive effort continues across our organization where our talented and diverse employees strive to enhance our corporate responsibility related to environmental, social and corporate governance considerations. As a Company, we cultivate a high-performance workforce, encouraging integrity, diversity, accountability and acceptance; and we continue to enhance the work experience by building a more inclusive culture where everyone is respected and valued. Our Company culture enables our employees to stand up to a challenge with a problem-solving, think-outside-of-the-box mentality to achieve increased performance and financial results.
Our Company Culture
Driven by the entrepreneurial spirit of our employees, we consistently deliver safe, secure, reliable and efficient service and energy solutions that are environmentally and economically smart. Our unique Company culture has earned ten consecutive years of Top Workplace recognition in Delaware and in Central Florida for two consecutive years. Chesapeake Utilities Corporation was also honored to be named a recipient of the 2021 and 2022 Top Workplaces USA for mid-size companies. This award celebrates our employee-centric culture and all of our employees who continue to come together providing solutions, creating innovation and embracing change in support of our customers, communities, and each other.
Strong Foundation
$2.2 billion in assets
Capital investments of $1.8 billion over last 10 years
Strong balance sheet (~50% equity to total capitalization ratio) and high retention rate for reinvestment
Commitment to safety and reliable customer service
Superior Growth & Total Return
Compound annual growth rate in earnings per share of 9.8% (5 years ended 12.31.2022)
We continue to achieve an average return on equity in excess of 11%
62 years of consecutive dividends paid without reduction
More than doubled the dividend in the last 10 years
Five-year dividend growth of 9.9%; and 10.3% dividend increase in 2023
Greater than 11% total shareholder return for 3, 5, and 10-year periods ended 12.31.2022
Proven ability to identify profitable growth opportunities
Focused on efficiency to maximize growth and profitability
Positioned for Continued Growth
$200 million to $230 million in capital spending forecasted for 2023
$900 million to $1.1 billion in five-year spending guidance (2021 to 2025)
EPS guidance of $6.15 – $6.35 per share for 2025
Investments in the regulated businesses (approximately 80 percent) coupled with unregulated energy growth projects (CNG, RNG, Propane, CHP, etc.)