Cimarex (XEC) will lower its quarterly dividend by 50 percent to $0.08 per share in 2016. The last dividend hike by XEC dates back to 2014 when the quarterly payment was raised by 14.3 percent to $0.16 per share.
Cimarex Energy Co. is an independent oil and gas exploration and production company. The company operates in exploration and production (E&P) segment. All of the company's oil and gas assets are located in the United States with principal operations in the Mid-Continent and Permian Basin areas of the U.S.