Chesapeake Energy reinstates dividends on convertible preferreds

By Marisa Wong

Morgantown, W.Va., Jan. 20 – Chesapeake Energy Corp. said its board of directors has reinstated the payment of dividends on its outstanding convertible preferred stock.

Holders of record on Feb. 1 for the company’s 4.5%, 5%, 5.75% and 5.75% (series A) convertible preferred stock will receive four quarterly payments of dividends in arrears on Feb. 15, according to a press release.

The total amount per share for the four quarters will be $4.50 for the 4.5% preferreds, $5.00 for the 5% preferreds, $57.50 for the 5.75% preferreds and $57.50 for the 5.75% (series A) preferreds.

The board also declared dividends on each series for the current quarter. Holders of the 5%, 5.75% and 5.75% (series A) preferreds on Feb. 1 will receive current quarterly dividends on Feb. 15. Holders of the 4.5% preferreds as of March 1 will receive current quarterly dividends on March 15.

The amount of the current dividend per share is $1.125 for the 4.5% preferreds, $1.25 for the 5% preferreds, $14.375 for the 5.75% preferreds and $14.375 for the 5.75% (series A) preferreds.

Chesapeake Energy is an Oklahoma City-based oil and gas producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.