DENVER, Feb. 23, 2018 /PRNewswire/ -- Cimarex Energy Co.
(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.