DOVER, Del., May 7, 2025 /PRNewswire/ -- At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation (NYSE:CPK) voted to increase the quarterly cash dividend on the Company's common stock from $0.64 per share to $0.685 per share. The Board's action raises the 2025 annualized dividend by $0.18 from $2.56 to $2.74 per share, a 7 percent increase. The $0.685 per share dividend will be payable July 7, 2025 to all shareholders of record at the close of business on June 16, 2025.

"The Board's decision to increase the annualized dividend rate reflects our balanced focus on continued capital investment as well as sustained dividend growth supported by earnings growth. The dividend increase reinforces the Board's commitment to our strategic growth plan, as we remain focused on prudently deploying capital, proactively managing our regulatory strategy and continuously transforming our business operations. We believe these three pillars will drive industry-leading earnings growth and support continued dividend growth, enabling us to deliver superior shareholder value for years to come," commented Jeff Householder, chair, president and chief executive officer.

Chesapeake Utilities has paid dividends to its shareholders without interruption for 64 years and has increased its annualized dividend every year since 2004.

About Chesapeake Utilities Corporation:

Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange (NYSE:CPK). Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, visit www.chpk.com.

For more information, contact:

Lucia Dempsey

Head of Investor Relations

ldempsey@chpk.com

347-804-9067

View original content to download multimedia:https://www.prnewswire.com/news-releases/chesapeake-utilities-corporation-raises-dividend-by-7-percent-302449132.html

SOURCE Chesapeake Utilities Corporation

Chesapeake Utilities Corporation Raises Dividend by 7 Percent