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Chesapeake Utilities Launches Florida Energy Pathway Project with $1.2B Investment
Chesapeake Utilities and its subsidiary, Peninsula Pipeline Company, announced the Florida Energy Pathway, a new intrastate natural gas infrastructure project in south Florida. This project will be developed, constructed and operated by PPC in order to expand natural gas transportation capacity to address regional supply constraints, enhance system reliability and extend natural gas infrastructure to serve homes and businesses. FEP is anticipated to be a 24-inch intrastate natural gas pipeline originating in Palm Beach County and terminating in Miami-Dade County. The project is anchored by firm commitments totaling nearly 250,000 dekatherms per day from multiple investment grade shippers. Upstream capacity will be supplied by Florida Gas Transmission in conjunction with its Phase IX expansion. PPC is also accepting binding commitments with additional shippers for firm transportation service. Total project investment is estimated to be approximately $1.2B, pending finalization of design and development activities. The project is anticipated to be in service in 2030, subject to final commissioning. Chesapeake Utilities is evaluating options for financing the project and intends to partner with one or more third parties to invest in and own up to 49% of the total project.
Company Reaffirms 2024-2028 Capital Guidance Range of $1.5B-$1.8B
The company also continues to re-affirm its five-year (2024-2028) capital guidance range of $1.5B-$1.8B.
Chesapeake Utilities Confirms FY28 EPS View of $7.75-$8.00
Chesapeake Utilities backs FY28 EPS view $7.75-$8.00
Company Q1 Revenue of $353.1M Exceeds Expectations
Reports Q1 revenue $353.1M, consensus $322.2M. "Our performance in the first quarter reflects a strong start to 2026, as we remain focused on our growth strategy: prudently deploying capital, proactively managing our regulatory agenda and transforming operations across the business," said Jeff Householder, the Company's Chair of the Board, President and Chief Executive Officer. "Our theme for the year is 'Transforming for Growth, Powered by People'. Achieving meaningful growth and delivering reliable and affordable service to customers depends on our dedicated teammates working together. I'm especially grateful for the exemplary performance of our team and the resilience of our system during the winter storms earlier this year."
Chesapeake Utilities Corporation Increases Quarterly Cash Dividend to 73.5 Cents
At their meeting held today, the Board of Directors of Chesapeake Utilities Corporation voted to increase the quarterly cash dividend on the Company's common stock from 68.5c per share to 73.5c per share. The Board's action raises the 2026 annualized dividend by 20c from $2.74 to $2.94 per share, a 7.3 percent increase. The quarterly dividend will be payable July 6, 2026 to all shareholders of record at the close of business on June 15, 2026.
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