8-KOther Events

EXPAND ENERGY Corp 8-K Report, Corporate Update (Sep 21, 2004)

Filed September 21, 2004For Securities:EXEEXEELEXEEWEXEEZ

Summary

This Form 8-K filing by Chesapeake Energy Corporation (CHK) on September 21, 2004, announces the declaration of quarterly cash dividends for its common and various series of preferred stock. For common shareholders, a dividend of $0.045 per share was declared, payable on October 15, 2004, to shareholders of record on October 1, 2004. The company reported approximately 267 million common shares outstanding. The filing also details dividends for several classes of preferred stock, including the 4.125% Cumulative Convertible Preferred Stock, 6.75% Cumulative Convertible Preferred Stock, 5.0% Cumulative Convertible Preferred Stock, and 6.0% Cumulative Convertible Preferred Stock. Specific payment dates, record dates, and dividend amounts per share are provided for each series, along with the number of outstanding shares and liquidation values. This information is crucial for income-focused investors and provides a clear picture of the company's commitment to returning capital to shareholders.

Key Highlights

  • 1Chesapeake Energy Corporation (CHK) declared a quarterly common stock dividend of $0.045 per share.
  • 2The common stock dividend is payable on October 15, 2004, to shareholders of record on October 1, 2004.
  • 3Approximately 267 million common shares were outstanding at the time of the filing.
  • 4Quarterly cash dividends were also declared for multiple series of preferred stock, including 4.125%, 6.75%, 5.0%, and 6.0% Cumulative Convertible Preferred Stock.
  • 5Specific payment and record dates, along with dividend amounts per share, are provided for each preferred stock series.
  • 6The filing reiterates Chesapeake Energy's position as one of the five largest independent natural gas producers in the U.S.

Frequently Asked Questions

The filing does not explicitly state the ex-dividend date, but the record date is October 1, 2004. Investors typically need to purchase shares before the ex-dividend date (which is usually one business day before the record date) to be eligible to receive the dividend.

With approximately 267 million common shares outstanding and a dividend of $0.045 per share, the total payout for the common stock dividend would be approximately $12.015 million (267,000,000 shares * $0.045/share).

These dividend declarations signal the company's financial health and its commitment to shareholder returns. For income-seeking investors, they represent a predictable stream of income. For the company, it means a consistent outflow of cash, which is a factor in its overall financial management and capital allocation strategy.

Yes, preferred stockholders must be of record on the specified record dates for each respective series to receive their quarterly dividends. The filing provides these record dates (e.g., December 1, 2004, for 4.125% and 6.0% preferred stock; November 1, 2004, for 6.75% and 5.0% preferred stock).