 FOR IMMEDIATE RELEASE MARCH 14, 2008 | N e w s R e l e a s e Chesapeake Energy Corporation P. O. Box 18496 Oklahoma City, OK 73154 |
CONTACTS:
JEFFREY L. MOBLEY, CFA SENIOR VICE PRESIDENT – INVESTOR RELATIONS AND RESEARCH (405) 767-4763 jmobley@chkenergy.com | MARC ROWLAND EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER (405) 879-9232 mrowland@chkenergy.com |
CHESAPEAKE ENERGY CORPORATION DECLARES QUARTERLY
COMMON AND PREFERRED STOCK DIVIDENDS
OKLAHOMA CITY, OKLAHOMA, MARCH 14, 2008 – Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared a $0.0675 per share quarterly dividend that will be paid on April 15, 2008 to common shareholders of record on April 1, 2008. Chesapeake has approximately 514 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 | |||||||||||||
| Date of Issue | Mar. 30, 2004 | April 19, 2005 | Sept. 14, 2005 | Nov. 8, 2005 | June 30, 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 | 3,062 | 5,000 | 3,450,000 | 5,750,000 | 143,768 | |||||||||||||
| Liquidation Preference per Share | $ | 1,000 | $ | 100 | $ | 100 | $ | 100 | $ | 250 | ||||||||
| Record Date | June 2, 2008 | April 1, 2008 | June 2, 2008 | May 1, 2008 | June 2, 2008 | |||||||||||||
| Payment Date | June 16, 2008 | April 15, 2008 | June 16, 2008 | May 15, 2008 | June 16, 2008 | |||||||||||||
| Amount per Share | $ | 10.3125 | $ | 1.25 | $ | 1.125 | $ | 1.25 | $ | 3.90625 | ||||||||
Chesapeake Energy Corporation is the largest independent and third-largest overall 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, Fort Worth Barnett Shale, Fayetteville Shale, Permian Basin, Delaware Basin, South Texas, Texas Gulf Coast, Ark-La-Tex and Appalachian Basin regions of the United States. The company’s Internet address is www.chk.com.