Summary
Chesapeake Energy Corporation (NYSE: CHK) announced on June 9, 2004, a significant increase in its common stock dividend. The quarterly dividend for common shareholders has been raised by $0.01 per share to $0.045, reflecting confidence in the company's performance and a commitment to returning value to shareholders. This increase, effective for the dividend payable on July 15, 2004, marks a positive development for common stockholders. In addition to the common stock dividend adjustment, the company's Board of Directors also declared regular quarterly cash dividends for several classes of its cumulative convertible preferred stock. These declarations cover the 4.125%, 6.75%, 5.0%, and 6.0% preferred stock, with various payment and record dates throughout September and August 2004. These actions underscore the company's consistent dividend payout policy across its capital structure.
Key Highlights
- 1Chesapeake Energy Corp. announced an increase in its quarterly common stock dividend to $0.045 per share, up from $0.035.
- 2The increased common stock dividend will be paid on July 15, 2004, to shareholders of record on July 1, 2004.
- 3The company has approximately 242 million common shares outstanding.
- 4Quarterly cash dividends were declared for multiple classes of preferred stock, including 4.125%, 6.75%, 5.0%, and 6.0% Cumulative Convertible Preferred Stock.
- 5Specific payment and record dates for preferred stock dividends were provided, occurring between August and September 2004.
- 6Chesapeake Energy is identified as one of the six largest independent U.S. natural gas producers.