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Friday, June 17, 2011

For Investors: CHK Increases Dividends; Expects More Of The Same In Coming Years

Link here.
Chesapeake said Monday it raised its common-stock dividend by 17%, marking the natural-gas company's first increase since June 2008.

Chesapeake Energy, the second-largest U.S. natural-gas producer after Exxon Mobil Corp., joins a long list of companies that have increased payouts to shareholders in recent months using stockpiled cash. Last month, Chesapeake Energy reported that it swung to a first-quarter loss on steep derivatives losses and a 42% drop in revenue as energy prices declined, while production increased from a year ago.
The story suggests that the announced dividend increase was the board's answer to dissatisfied shareholders.  

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