Chesapeake Energy Corporation Declares Preferred Stock Dividend
7/31/2006 3:37 PM
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OKLAHOMA CITY, July 31 /PRNewswire-FirstCall/ -- Chesapeake Energy
Corporation (NYSE: CHK) today announced that its Board of Directors has
declared a quarterly cash dividend on Chesapeake's 6.25% Mandatory Convertible
Preferred Stock, par value $0.01. The dividend for the 6.25% preferred stock
is payable on September 15, 2006 to preferred shareholders of record on
September 1, 2006 at the rate of $3.25521 per share. Chesapeake has 2,300,000
shares of 6.25% preferred stock outstanding with a liquidation value of $575
million.
Chesapeake Energy Corporation is the second largest independent 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 Mid-Continent, Permian Basin, South Texas,
Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of
the United States. The company's Internet address is http://www.chkenergy.com
.
SOURCE Chesapeake Energy Corporation
CONTACT: Jeffrey L. Mobley, CFA, Senior Vice President - Investor
Relations and Research, +1-405-767-4763, or jmobley@chkenergy.com , or Marc
Rowland, Executive Vice President and Chief Financial Officer,
+1-405-879-9232, or mrowland@chkenergy.com , both of Chesapeake Energy
Corporation