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Chesapeake Energy Corp., 4.50% Cumulative Convertible Preferred Stock
Ticker Symbol: CHKLQ* CUSIP: 165167842 Exchange: OTOTC
* NOTE: This security is no longer trading as of 2/09/2021
Security's Distribution is Suspended!
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Chesapeake Energy Corp., 4.50% Cumulative Convertible Preferred Stock, liquidation preference $100 per share, not redeemable at the issuer's option at any time, and with no stated maturity. Distributions of 4.50% ($4.50) per annum paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). The preferred shares are convertible any time at the holder's option into an initial 2.2639 common shares of Chesapeake Energy Corp. (NYSE: CHK), an initial conversion price of $44.172 per common share (now 2.2727 at $43.9998) . On or after 9/15/2010, 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, force the preferred shares to be converted into common shares at the then prevailing conversion price. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds 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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4.50%
$4.50
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$100.00
$100.00
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9/15/2010
None
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NR WR
6/29/2020
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2.2727
$43.9998
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Suspended!
3/15, 6/15, 9/15 & 12/15
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)
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Notes: 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 - 9/14/2005 - 3.00 Million Shares @ $100.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: CHK-D Changed: 6/29/2020
Market Value $162.0 Million
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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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