Chesapeake Energy Corporation
Chesapeake's Board also declared a quarterly cash dividend on Chesapeake's 6.75% Cumulative Convertible Preferred Stock, par value $0.01. The dividend for the 6.75% preferred stock is payable on August 15, 2003 to preferred shareholders of record on August 1, 2003 at the quarterly rate of $0.84375 per share. Chesapeake has 2.998 million shares outstanding of 6.75% preferred stock with a liquidation value of $149.9 million.
In addition, Chesapeake's Board declared a quarterly cash dividend on Chesapeake's 6.0% Cumulative Convertible Preferred Stock, par value $0.01. The dividend for the 6.0% preferred stock is payable on September 15, 2003 to preferred shareholders of record on September 2, 2003 at the quarterly rate of $0.75 per share. Chesapeake has 4.6 million shares of 6.0% preferred stock outstanding with a liquidation value of $230 million.
Chesapeake Energy Corporation is one of the eight largest independent natural gas producers in the U.S. Headquartered in Oklahoma City, the company's operations are focused on exploratory and developmental drilling and producing property acquisitions in the Mid-Continent region of the United States. The company's Internet address is www.chkenergy.com .
SOURCE: Chesapeake Energy Corporation
CONTACT: Marc Rowland, Executive Vice President and Chief Financial
Officer, +1-405-879-9232, or Tom Price, Jr., Senior Vice President-Investor
Relations, +1-405-879-9257, both of Chesapeake Energy Corporation
Web site: http://www.chkenergy.com/
Company News On-Call: http://www.prnewswire.com/comp/138877.html