Summary
Chesapeake Energy Corporation (CHK) filed an 8-K on January 22, 2002, to announce a routine event: the declaration of a quarterly cash dividend on its preferred stock. The dividend payment is for the 6.75% Cumulative Convertible Preferred Stock, with a rate of $0.8625 per share, payable on February 15, 2002, to shareholders of record as of February 1, 2002. This filing primarily serves as notification of the dividend distribution to preferred shareholders. Investors should note that Chesapeake Energy had 3.0 million shares of preferred stock outstanding at the time, representing a liquidation value of $150 million. The company, a significant independent natural gas producer in the U.S., continues its focus on exploration and production in the Mid-Continent region.
Key Highlights
- 1Chesapeake Energy Corporation declared a quarterly cash dividend on its preferred stock.
- 2The dividend is for the 6.75% Cumulative Convertible Preferred Stock.
- 3The dividend rate is $0.8625 per share.
- 4The dividend payment date is February 15, 2002.
- 5Shareholders of record on February 1, 2002, will receive the dividend.
- 6There were 3.0 million shares of preferred stock outstanding.
- 7The preferred stock had a liquidation value of $150 million at the time of the filing.