Boston, MA 03/17/2014 (wallstreetpr) – Chesapeake Utilities Corporation (NYSE:CPK) operates in utility and other businesses. The management of the company has for a very long time paid dividends without breaks. And if anyone out there was wondering whether there might be some stops to this trend, the clear word is that what you can expect is a boost of the dividend payout amount.
We take a closer look at the company’s dividend story and other developments to let you know if this company fits your portfolio requirement.
Dividend story
The board members of Chesapeake Utilities Corporation (NYSE:CPK) meet on March 5, and ended up declaring quarterly cash dividend of $0.385 a share of the common stock. In a press release announcing the latest dividend, the company stated that shareholders of record as of March 17, will be captured in the payout which is slated for April 7.
The company boosted its dividend payout amount by 5.5 percent in May 2013 and it has treated shareholders to non-stop dividend payout for 52 years in a row.
There is no better way to read the growing confidence among the management that the company will continue to experience earnings growth for the long-term, than the upward dividend adjustments. The long dividend history also goes a long way to suggest that the company understands how to balance its operations to ensure that investors always have something to take home at the end of every quarter.
Talent acquisition
Chesapeake Utilities Corporation (NYSE:CPK) has become a dividend stock that it is today by putting more emphasis on acquiring the best of management talents. And it seems the company is not just about to put a stop to that habit. The company recently announced a veteran of 25 years in energy industry to head its strategic planning and development operations.
Mr. Mark Eisenhower joined Chesapeake Utilities Corporation (NYSE:CPK) as vice president in charge of strategic planning and development. In his new capacity, he is mandated to putting his wealth of experience in energy industry to help the company attain its growth goals and also identify new business opportunities.
