22thoroughbred

Chesapeake Energy Unlikely To Remain this Cheap

I own the common, but have accumulated a nice size position in the pfd. class "E" (CHKpE) it pays a $15.64 annual dividend, or just a touch under 9% at $175.00, and is convertible. The pfd. traded as high as $535 in the last 12 months. When nat gas comes back there is a good chance the pfd. doubles to $350 within 12-18 months and there is a nice payout while you wait.