Cimarex Energy (XEC) will raise its quarterly dividend by 12.5 percent to $0.18 per share quarterly in 2018. This is the company's second dividend increase this year, following a 100 percent hike to $0.16 quarterly in Q1.

The dividend is payable on November 30, 2018, to stockholders of record on November 15, 2018. The new annual dividend of 72 cents per share yields 0.9% at a stock price of 84.48.

Chairman and CEO Tom Jorden said, "We are pleased to announce this 12.5 percent increase in our dividend returning Cimarex to a pattern of growing our annual cash return to shareholders."

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.