Independent oil and gas producer Cimarex Energy (NYSE:XEC) announced yesterday a second-quarter dividend of $0.14 per share, the same rate it paid last quarter after raising the dividend almost 17% from $0.12 per share.
The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 15. The increase last quarter marks the fourth straight year of hiking the payout.
The regular dividend payment equates to a $0.56-per-share annual dividend yielding 0.8% based on the closing price of Cimarex Energy's stock on May 16.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Cimarex Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.
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