DOVER, Del., March 7, 2016 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake Utilities"), a diversified energy company headquartered in Dover, Delaware, will ring The Closing Bell® on March 9, 2016 at the New York Stock Exchange. Ralph J. Adkins, Chair Emeritus and former Chair and Chief Executive Officer, will join the Company's executive leadership team to celebrate his more than 50 years of service to Chesapeake Utilities and its stockholders.
Mr. Adkins served as Chair of the Chesapeake Utilities Board of Directors for 18 years, as a director for 26 years, and as an employee for approximately 40 years. During his remarkable service and leadership, the Company began trading on the New York Stock Exchange in 1993 with a market capitalization of $55 million. As of close of business Friday, March 4, 2016, the Company's market capitalization was $912 million.
"Ralph has significantly contributed to the Company's growth during his extraordinary service to Chesapeake Utilities and our stockholders, and we are honored to celebrate this special occasion with him, our investors, customers and employees," said Michael P. McMasters, President and Chief Executive Officer of Chesapeake Utilities Corporation. "Our continued efforts to transform opportunities into profitable growth have resulted in our ninth consecutive year of record earnings, placing us in the top quartile in 18 of 20 key financial benchmarks used to compare our performance with our peers. The combination of stock price appreciation and dividends for the most recent year-end, 2015, produced a total return to our stockholders of 16.7 percent. The
dedication of Ralph and all of our employees, has produced a compound annual shareholder return of 13.5 percent, since we began trading on the New York Stock Exchange in 1993."
"Ringing The Closing Bell® at the New York Stock Exchange is a testament to the growth and success of our Company, made possible by a strong leadership team and employees that work hard every day to make an undeniable difference for our stockholders and the communities we serve," said John Schimkaitis, Chairman of the Board of Chesapeake Utilities Corporation.
"To have been with Chesapeake as we have grown and achieved so much has been exciting," said Mr. Adkins. "I am honored to experience this special moment with my family and friends at Chesapeake Utilities."
The bell-ringing is scheduled for 4:00 p.m. Eastern Time on Wednesday, March 9, 2016. The New York Stock Exchange will stream The Closing Bell® ringing on its website: http://livestream.com/NYSE. A video of the bell-ringing will be archived on that same page after the livestream. Photos and video of the NYSE bell ringing ceremony will also be available, courtesy of the NYSE, on Facebook (NYSE) and Twitter (@NYSE).
Information will also be available on the Company's IR App which can be downloaded for free through the App Store on an iPhone or iPad, or Google Play on an Android mobile device by searching for Chesapeake Utilities Corporation.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation is a diversified energy company engaged in natural gas distribution, transmission, gathering and processing, and marketing; electricity distribution; propane gas distribution and wholesale marketing; and other businesses. Information about Chesapeake Utilities Corporation's businesses is available at www.chpk.com.
Please note that Chesapeake Utilities Corporation has no affiliation with Chesapeake Energy, an oil and natural gas exploration company headquartered in Oklahoma City, Oklahoma.
PHOTO: Provided upon request after the closing bell on March 9, 2016.
For more information, contact:
Elaine B. Bittner
Senior Vice President
Chesapeake Utilities Corporation
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SOURCE Chesapeake Utilities Corporation