Standing Strong.  Embracing Change.  Shaping Our Future.

2020 Financial


Our employees continued to come together across our Company, standing strong to successfully exceed the new challenges and uncertainties presented in 2020. We embraced change and implemented improved solutions for our customers. As we performed our day-to-day activities without service interruptions, we expanded our businesses and entered into new markets. We initiated and completed business initiatives while ensuring the safety and well-being of our customers, communities and each other.

Financial Highlights

(dollars in thousands, except per share data)

2020 2019 2020/2019
% Change
2018 2019/2018
% Change
Gross Margin $350,260 $325,104 8% $300,146 8%
Operating Income from Continuing Operations $112,723 $106,285 6% $94,844 12%
Income from Continuing Operations $70,642 $61,100 16% $56,968 7%
Net Income $71,498 $65,153 10% $56,580 15%
Diluted Earnings Per Share:
From Continuing Operations $4.21 $3.72 13% $3.47 7%
Consolidated $4.26 $3.96 8% $3.45 15%
Annualized Dividends Per Share $1.76 $1.62 9% $1.48 9%
Total Assets $1,932,487 $1,783,198 8% $1,693,671 5%
Stockholders’ Equity $697,085 $561,577 24% $518,439 8%
Employees 947 955 -1% 983 -3%
Shares Outstanding at Year End 17,461,841 16,403,776 6% 16,378,545 -
Average Distribution Customers 277,580 255,623 9% 247,487 3%

Our shared commitment and hard work continue to be exemplified by our superior performance and positive results.

The dedication of our employees positions us for growth opportunities year after year, and is reflected by the milestones achieved and accolades earned, especially during this unprecedented time. In today’s workplace, our employees have gone above and beyond mere compliance. We innovate with responsibility and integrity to provide safe and reliable delivery service and to use our understanding of technology to instill inclusiveness and to remain connected with our colleagues and external stakeholders. As a Company, we remain grounded and steadfastly focused on leading within the industry, growing our businesses and supporting our communities while shaping the future to facilitate sustainable practices and generate long-term value for our stakeholders.

Diluted Earnings Per Share from Continuing Operations

*2017 excludes one-time Tax Cuts & Jobs Act Benefit.

2020 Diluted
Earnings Per Share
from Continuing
Operations was

a record
$4.21, an
of $0.49
or 13.2%
over 2019.

Average Return on Equity from Continuing Operations

In 2020,
we achieved an

on Equity.

Annualized Dividends Per Share

Our Board of
Directors declared a

of 8.6%,
our 17th
year of

Annual Capital Expenditures

(in millions)


million in new Capital
Expenditures in 2020.

Average Annualized Shareholder Return

For periods ending December 31, 2020


earned in 2020 by
investors on their
Chesapeake Utilities
Corporation’s investment.


or higher return
achieved for each

Market Capitalization

In the past 10
years, we have

our market