Jun 13, 2011
Chesapeake Energy Corporation (NYSE:CHK) announced today a quarterly dividend of $0.0875 per share, to be paid July 25th to shareholders of record as of July 1st.
The dividend represents a 1.2% annual yield based on the stock's closing price Friday of $29.24 per share.
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 has a potential upside of 34.3% based on a current price of $29.24 and an average consensus analyst price target of $39.26.
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