Cimarex Energy Approves Dividend on Preferred Stock

(Neutral)

Rhea-AI Summary

Cimarex Energy Co. (NYSE: XEC) announced a cash dividend of $20.3125 per share on its 8⅛ percent Series A Cumulative Perpetual Convertible Preferred Stock. This dividend, which covers the period from July 16, 2020 to October 15, 2020, is payable on October 15, 2020 to shareholders on record as of October 1, 2020. The announcement reflects Cimarex's commitment to returning value to its shareholders amid its operations primarily in the Permian Basin and Mid-Continent areas of the U.S.

Positive

Dividend of $20.3125 per share reflects strong cash flow management.
Demonstrates commitment to shareholder value with the preferred stock dividend.

Negative

None.

News Market Reaction – XEC

-7.51%

-7.51% Session move

In the trading session that priced this news, XEC declined 7.51%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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09/09/2020 - 04:01 PM

DENVER, Sept. 9, 2020 /PRNewswire/ -- Cimarex Energy Co. (NYSE: XEC) today announced that its Board of Directors approved a cash dividend of $20.3125 per share on its 8⅛ percent Series A Cumulative Perpetual Convertible Preferred Stock. The dividend is payable on October 15, 2020, to holders of record at the close of business on October 1, 2020, and is for the period beginning on July 16, 2020 and ending on October 15, 2020.

About Cimarex Energy
Denver-based Cimarex Energy Co. is an independent oil and gas exploration and production company with principal operations in the Permian Basin and Mid-Continent areas of the U.S.

View original content:http://www.prnewswire.com/news-releases/cimarex-energy-approves-dividend-on-preferred-stock-301126772.html

SOURCE Cimarex Energy Co.

FAQ

What is the dividend amount for Cimarex Energy (XEC)?

Cimarex Energy has declared a dividend of $20.3125 per share.

When will Cimarex Energy's dividend be paid?

The dividend will be paid on October 15, 2020.

What is the record date for Cimarex Energy's dividend?

The record date for the dividend is October 1, 2020.

For what period is the Cimarex Energy dividend declared?

The dividend is for the period from July 16, 2020, to October 15, 2020.