Chesapeake Declares Fresh Dividends
Chesapeake Energy is keeping its common stock dividend steady for the moment. The company has declared its latest set of quarterly distributions, the most prominent of which is a $0.0875 common stock payout to be disbursed on October 31 to shareholders of record as of October 15. That amount matches all of its preceding distributions stretching back to July 2011. Prior to that, Chesapeake was marginally less generous, handing out $0.075 per share.
The company also declared distributions for its convertible preferred stock issues. The 4.50% issue is to receive $1.125 per share, which will be dispensed on December 16 to holders of record as of December 2. The 5% will get $1.25, while both the 5.75% and the 5.75% Series A issues are to be paid $14.375 apiece. Payouts for all three will occur on November 15 for holders in possession of their stock as of November 1.
The just-declared common stock dividend annualizes to $0.35 per share. That yields 1.3% at Chesapeake's most recent closing stock price of $26.38.
The article Chesapeake Declares Fresh Dividends originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Chesapeake Energy, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.