USA: Chesapeake Ups Quarterly Dividend

Chesapeake Energy Corporation announced that its Board of Directors has declared a $0.0875 per share quarterly dividend that will be paid on July 15, 2011 to common shareholders of record on July 1, 2011.

Chesapeake has approximately 658 million common shares outstanding.

In addition, Chesapeake’s Board has declared dividends on its outstanding convertible preferred stock issues.

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.”

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Source: Chesapeake, June 13, 2011;