DENVER, Feb. 23, 2018 /PRNewswire/ -- Cimarex Energy Co. (XEC) (NYSE: XEC) announced today that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.16 per share. This represents a 100 percent increase in the company's quarterly dividend, restoring the amount paid to the previous annualized payout of $0.64 per share. The dividend was reduced in February 2016, a result of the company's diminished cash flow due to the collapse in oil prices.
Chairman and CEO, Tom Jorden said, "We are pleased to be able to increase our dividend to its previous high water mark. Cimarex generated excellent returns in 2017, which were manifested in our $1.2 billion of adjusted cash flow from operations."
The dividend is payable on June 1, 2018, to stockholders of record on May 15, 2018.
About Cimarex Energy
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operations in the Mid-Continent and Permian Basin areas of the U.S.
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SOURCE Cimarex Energy Co.