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Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock Dividends

9/22/2008 3:02 AM

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OKLAHOMA CITY--(BUSINESS WIRE)--Sept. 22, 2008--Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared a $0.075 per share quarterly dividend that will be paid on October 15, 2008 to common shareholders of record on October 1, 2008. Chesapeake has approximately 580 million common shares outstanding. In addition, Chesapeake's Board has declared dividends on its outstanding convertible preferred stock issues, as stated below.

                         Cumulative Convertible Preferred Stock
                   ---------------------------------------------------
                    4.125%   5% (2005)    4.50%   5% (2005B)   6.25%
------------------ --------- ---------- --------- ---------- ---------
NYSE Symbol              N/A        N/A  CHK Pr D        N/A  CHK Pr E
------------------ --------- ---------- --------- ---------- ---------
                   Mar. 30,  April 19,  Sept. 14,   Nov. 8,  June 30,
Date of Issue           2004       2005      2005       2005      2006
------------------ --------- ---------- --------- ---------- ---------
Registered CUSIP   165167875  165167859 165167842  165167826 165167818
------------------ --------- ---------- --------- ---------- ---------
144A CUSIP         165167883  165167867       N/A  165167834       N/A
------------------ --------- ---------- --------- ---------- ---------
Par Value per
 Share                 $0.01      $0.01     $0.01      $0.01     $0.01
------------------ --------- ---------- --------- ---------- ---------
Shares Outstanding     3,033      5,000 2,558,900  2,095,615   143,768
------------------ --------- ---------- --------- ---------- ---------
Liquidation
 Preference per
 Share                $1,000       $100      $100       $100      $250
------------------ --------- ---------- --------- ---------- ---------
                    Dec. 1,    Oct. 1,   Dec. 1,    Nov. 3,   Dec. 1,
Record Date             2008       2008      2008       2008      2008
------------------ --------- ---------- --------- ---------- ---------
                   Dec. 15,   Oct. 15,  Dec. 15,   Nov. 17,  Dec. 15,
Payment Date            2008       2008      2008       2008      2008
------------------ --------- ---------- --------- ---------- ---------
Amount per Share    $10.3125      $1.25    $1.125      $1.25  $3.90625
------------------ --------- ---------- --------- ---------- ---------

Chesapeake Energy Corporation is the largest producer of natural gas in the U.S. Headquartered in Oklahoma City, the company's operations are focused on exploratory and developmental drilling and corporate and property acquisitions in the Fort Worth Barnett Shale, Haynesville Shale, Fayetteville Shale, Anadarko Basin, Arkoma Basin, Appalachian Basin, Permian Basin, Delaware Basin, South Texas, Texas Gulf Coast and Ark-La-Tex regions of the United States. Further information is available at www.chk.com.


CONTACT: Chesapeake Energy Corporation
Jeffrey L. Mobley, CFA, 405-767-4763
Senior Vice President - Investor Relations and Research
jmobley@chkenergy.com
or
Marc Rowland, 405-879-9232
Executive Vice President and Chief Financial Officer
mrowland@chkenergy.com

SOURCE: Chesapeake Energy Corporation
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