Chesapeake Investors declares dividend

The board of directors of Chesapeake Investors Inc., Beltsville, a closed-end management investment company, declared a 0.5 cents-per-share dividend payable April 27 to shareholders of record tomorrow.

The board of directors elected Harry F. Breitbach as a director of the corporation, replacing Wilbert N. Sales, a member of the board since 1980 who died March 8. Breitbach was the assistant to the president of Citizens Bank of Maryland, which was acquired by Crestar Financial Corp. in 1997.