Cimarex Energy (NYSE:XEC) has lifted its quarterly dividend. The company is to pay $0.14 per share of its common stock on June 3 to shareholders of record as of May 15. That's a 17% raise over the previous disbursement of $0.12, which the company paid in all four quarters of 2012.
Cimarex Energy is a habitual dividend payer and tends to increase its payout at the start of every year. It has risen consistently and steadily since 2006, when the company handed out $0.04 per share.
The new dividend annualizes to $0.56 per share. That yields 0.8% at the current stock price of $67.00.
Fool contributor Eric Volkman has no position in Cimarex Energy. The Motley Fool owns shares of Cimarex Energy. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.