Oil and gas producer Penn West Exploration (NYSE:PWE) announced today its third-quarter dividend of $0.14 per share, the same rate it paid last quarter after slashing the quarterly payout 48%, from $0.27 per share.

The board of directors said the quarterly dividend is payable on Oct. 15 to the holders of record at the close of business on Sept. 30. The regular dividend payment equates to a $0.56-per-share annual dividend, yielding 4.7% based on the closing price today of Penn West Exploration's stock.

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