The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 15. The nat gas producer has made quarterly payouts to investors since 1997.
The board also declared dividends on four series of preferred shares as follows:
- 4.5% convertible preferred, which trades on the NYSE under the symbol CHK PrD, of $1.125 per share, payable on Sept. 16 to holders of record on Sept. 3.
- 5% Series 2005B convertible preferred of $1.25 per share payable on Aug. 15 to holders of record on Aug. 1.
- 5.75% non-voting convertible preferred of $14.375 per share payable on Aug. 15 to holders of record on Aug. 1.
- 5.75% Series A non-voting convertible preferred of $14.375 per share payable on Aug. 15 to holders of record on Aug. 1.
The regular dividend payment equates to a $0.35-per-share annual dividend, yielding 1.7% based on the closing price of Chesapeake Energy's stock on June 14.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.