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Chesapeake Energy Corp., 5.75% Cumulative Convertible Preferred Stock Series A
Ticker Symbol: CHKVP* CUSIP: 165167750 Exchange: OTOTC
* NOTE: This security is no longer trading as of 2/09/2021
Security's Distribution is Suspended!
QUANTUMONLINE.COM SECURITY DESCRIPTION: Chesapeake Energy Corp., 5.75% Cumulative Convertible Preferred Stock Series A, liquidation preference $1,000 per share, not redeemable at the issuer's option at any time. Cumulative distributions of 5.75% per annum ($57.50 per annum or $14.375. per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). If a Fundamental Change occurs holders of the Preferred Stock will have the right to convert shares into common stock and may also receive a Fundamental Change Dividend Make-whole Amount (see prospectus for further information). Dividends paid by this preferred are eligible for a preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under normal holding restrictions) and are also eligible for the dividends received deduction for corporate holders. The preferred shares are convertible any time at the holder's option into common shares of Chesapeake Energy Corp. (NYSE: CHK), an initial conversion price of $27.94 per common share. On or after 5/17/2015, if the price of the common stock exceeds 130% of the conversion price for 20 of any 30 consecutive trading days, the company may, at their option, cause the preferred shares to be converted into common shares at the then prevailing conversion price. This security was not rated by Moody’s and rated B+ by S&P. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Conv Shrs Conv Price |
Distribution Dates |
15% Tax Rate |
OTOTCn
OTOTCps
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5.75%
$57.50
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$1,000.00
$1,000.00
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None
5/17/2015
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NR
D
6/29/2020
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N/A
$$27.94
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Suspended!
2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (CHK)
Notes: Feb. 9, 2021 -- Chesapeake Energy Corporation (NASDAQ: CHK) announced today that it has successfully concluded its restructuring process and emerged from Chapter 11. June 28, 2020 -- Chesapeake Energy Corporation (NYSE: CHK) today announced that the Company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas ("the Court") to facilitate a comprehensive balance sheet restructuring. Chesapeake intends to use the proceedings to strengthen its balance sheet and restructure its legacy contractual obligations to achieve a more sustainable capital structure. Chesapeake will operate in the ordinary course during the Chapter 11 process. April 17, 2020 -- Chesapeake Energy Corporation (NYSE:CHK) announced today that it has suspended payment of dividends on each series of its outstanding convertible preferred stock effective immediately. Jan. 20, 2017 -- Chesapeake Energy Corporation (CHK) today announced that its Board of Directors has reinstated the payment of dividends on its outstanding convertible preferred stock. Jan. 22, 2016 -- Chesapeake Energy Corporation (CHK) announced today that it has suspended payment of dividends on each series of its outstanding convertible preferred stock effective immediately.
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IPO - 5/17/2010 - 1.00 Million Shares @ $1000.00 /share.
Link to IPO Prospectus
Market Value $1.1 Billion
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 6100 North Western Avenue, Oklahoma City, OK 73118 |
Main Phone Number |
405-848-8000 |
Fax Number |
Not Available |
Investor Relations
Brad Sylvester
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405-935-8859
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CEO - Robert Douglas Lawler |
CFO - Domenic J. Dell’Osso, Jr. |
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