Chesapeake Energy Corporation Increases Quarterly Common Stock Dividend by 17% and Declares Preferred Stock Dividends
Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board
of Directors has declared a $0.0875 per share quarterly dividend that
will be paid on July 15, 2011 to common shareholders of record on July
1, 2011. Chesapeake has approximately 658 million common shares
outstanding. In addition, Chesapeake′s Board has declared dividends on
its outstanding convertible preferred stock issues, as stated below.
| 4.50% | 5% (2005B) | 5.75% | 5.75% (Series A) | |||||
| NYSE Symbol | CHK Pr D | N/A | N/A | N/A | ||||
| Date of Original Issue | September 14, 2005 | November 8, 2005 | May 17, 2010 | May 17, 2010 | ||||
| Registered CUSIP | 165167842 | 165167826 | N/A | N/A | ||||
| 144A CUSIP | N/A | 165167834 | 165167776 | 165167784 | ||||
| RegS CUSIP | N/A | N/A | U16450204 | U16450113 | ||||
| Clean (no legends) CUSIP | N/A | N/A | 165167768 | N/A | ||||
| Par Value per Share | $0.01 | $0.01 | $0.01 | $0.01 | ||||
| Shares Outstanding | 2,558,900 | 2,095,615 | 1,500,000 | 1,100,000 | ||||
| Liquidation Preference per Share | $100 | $100 | $1,000 | $1,000 | ||||
| Record Date | September 1, 2011 | August 1, 2011 | August 1, 2011 | August 1, 2011 | ||||
| Payment Date | September 15, 2011 | August 15, 2011 | August 15, 2011 | August 15, 2011 | ||||
| Amount per Share | $1.125 | $1.25 | $14.375 | $14.375 | ||||
Aubrey K. McClendon, Chesapeake′s CEO commented: 'We are pleased that
our Board has approved a significant 17% increase in Chesapeake′s common
stock dividend. This is our first dividend increase since June 2008 and
reflects the Board′s confidence in Chesapeake's steadily strengthening
financial position. It is our goal to be able to increase our common
stock dividend regularly in the years ahead.?
Chesapeake Energy Corporation is the second-largest producer of
natural gas, a Top 15 producer of oil and natural gas liquids and the
most active driller of new wells in the U.S.Headquartered
in Oklahoma City, the company's operations are focused on discovering
and developing unconventional natural gas and oil fields onshore in the
U.S.Chesapeake owns leading positions in the Barnett,
Haynesville, Bossier, Marcellus and Pearsall natural gas shale plays and
in the Granite Wash, Cleveland, Tonkawa, Mississippian, Bone Spring,
Avalon, Wolfcamp, Wolfberry, Eagle Ford, Niobrara, Three Forks/Bakken
and Utica unconventional liquids plays.The company has
also vertically integrated its operations and owns substantial
midstream, compression, drilling and oilfield service assets.Chesapeake′s
stock is listed on the New York Stock Exchange under the symbol CHK.Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and press releases.
Chesapeake Energy Corporation
Investor Relations:
Jeffrey L.
Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John
J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media
Relations:
Jim Gipson, 405-935-1310
jim.gipson@chk.com
