Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock Dividends and Completes Mandatory Conversion of 6.25% Preferred Stock
6/15/2009 4:02 PM
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OKLAHOMA CITY--(BUSINESS WIRE)--Jun. 15, 2009--
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 July 15, 2009 to common shareholders of record on July
1, 2009. Chesapeake has approximately 626 million common shares
outstanding. In addition, Chesapeake’s Board has declared dividends on
its outstanding convertible preferred stock issues, as stated below.
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5% (2005)
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4.50%
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5% (2005B)
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NYSE Symbol
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N/A
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CHK Pr D
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N/A
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Date of Issue
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April 19, 2005
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Sept. 14, 2005
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Nov. 8, 2005
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Registered CUSIP
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165167859
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165167842
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165167826
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144A CUSIP
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165167867
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N/A
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165167834
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Par Value per Share
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$0.01
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$0.01
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$0.01
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Shares Outstanding
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5,000
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2,558,900
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2,095,615
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Liquidation Preference per Share
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$100
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$100
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$100
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Record Date
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July 1, 2009
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Sept. 1, 2009
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Aug. 3, 2009
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Payment Date
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July 15, 2009
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Sept. 15, 2009
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Aug. 17, 2009
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Amount per Share
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$1.25
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$1.125
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$1.25
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Effective today, Chesapeake converted all of its outstanding 6.25%
Mandatory Convertible Preferred Stock, par value $0.01 per share (the
“Preferred Stock”), into Chesapeake Energy Corporation Common Stock, par
value $0.01 per share (the “Common Stock”). The Preferred Stock was
converted at a rate equal to 8.6218 shares of Common Stock per share of
Preferred Stock. Cash was paid in lieu of fractional shares of Common
Stock. No payment or adjustment was made upon conversion of the
Preferred Stock for accrued dividends with respect to the Preferred
Stock or for dividends with respect to the Common Stock issued upon
conversion. From and after today, the Preferred Stock remaining
outstanding will be deemed to be no longer outstanding and all rights of
the holders with respect to such Preferred Stock will terminate, except
the right to receive the whole shares of common stock issuable upon
conversion and cash in lieu of any fractional shares, as described above.
Chesapeake Energy Corporation is the largest independent producer of
natural gas in the U.S. Headquartered in Oklahoma City, the company's
operations are focused on the development of onshore unconventional and
conventional natural gas in the U.S. in the Barnett Shale, Haynesville
Shale, Fayetteville Shale, Marcellus Shale, Anadarko Basin, Arkoma
Basin, Appalachian Basin, Permian Basin, Delaware Basin, South Texas,
Texas Gulf Coast and East Texas regions of the United States. Further
information is available at www.chk.com.
Source: Chesapeake Energy Corporation
Chesapeake Energy Corporation
INVESTOR CONTACT:
Jeffrey
L. Mobley, CFA, 405-767-4763
Senior Vice President -
Investor
Relations and Research
jeff.mobley@chk.com
or
MEDIA
CONTACT:
Jim Gipson, 405-935-1310
Director – Media
Relations
jim.gipson@chk.com