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Cimarex up quarterly dividend, returns to old level

Cimarex Energy Co. doubled its dividend for the first quarter, to 16 cents per share.

The company slashed its dividend in February 2016 as lagging oil prices reduced its cash flow. Cimarex executives said on an earnings call that they planned to restore the dividend after oil prices picked back up and the company reported favorable results.

The dividend is payable June 1 to shareholders of record May 15, according to a Feb. 23 news release.