Summary
This 8-K filing from Chesapeake Energy Corporation (CHK) on December 16, 2003, reports on the declaration of quarterly dividends for its common and preferred stock. The company's Board of Directors approved a $0.035 per share dividend for common shareholders, payable in January 2004. Additionally, dividends were declared for three series of cumulative convertible preferred stock: 6.75%, 5.0%, and 6.0%. These preferred stock dividends are payable in February and March 2004, with specific record and payment dates outlined for each. These dividend declarations signal a commitment to returning value to shareholders and reflect the company's financial stability at the time. As one of the largest independent natural gas producers in the U.S., Chesapeake's focus on exploratory and developmental drilling in the Mid-Continent region provides context for its operational and financial performance that supports these regular dividend payments. Investors should note the respective payout dates and record dates to ensure eligibility for these distributions.
Key Highlights
- 1Chesapeake Energy Corporation declared a quarterly cash dividend of $0.035 per share for common shareholders.
- 2The common stock dividend is payable on January 15, 2004, to shareholders of record on January 2, 2004.
- 3A quarterly dividend of $0.84375 per share was declared for the 6.75% Cumulative Convertible Preferred Stock, payable February 17, 2004.
- 4A quarterly dividend of $1.208 per share was declared for the 5.0% Cumulative Convertible Preferred Stock, payable February 17, 2004.
- 5A quarterly dividend of $0.75 per share was declared for the 6.0% Cumulative Convertible Preferred Stock, payable March 15, 2004.
- 6The filing specifies record and payment dates for all declared dividends, allowing investors to track eligibility.
- 7Chesapeake Energy is identified as one of the six largest independent natural gas producers in the U.S.