DOVER, Del., Feb. 29, 2012 /PRNewswire/ -- The Board of Directors of Chesapeake Utilities Corporation (NYSE: CPK) today declared a quarterly cash dividend of $0.345 per common share. The dividend is payable April 5, 2012 to all shareholders of record as of March 15, 2012.
On May 4, 2011, the Board of Directors raised the quarterly dividend 4.5 percent from $0.33 to $0.345 per share. This is equivalent to an annual dividend of $1.38 per share, up from $1.32 per share. The dividend reflects the Board's confidence in the Company's long-term cash flow.
2012 marks the 51st consecutive year that Chesapeake has paid a dividend to its shareholders. In each of the 51 years, Chesapeake has either maintained or increased its annualized dividend.
Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution, transmission and marketing; electric distribution; propane distribution and wholesale marketing; advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available at http://www.chpk.com.For more information, contact: Beth W. CooperSenior Vice President & Chief Financial Officer302.734.6799 SOURCE Chesapeake Utilities Corporation