Cimarex Energy (XEC) will raise its quarterly dividend by 22.7 percent to 27 cents per share in 2021. This follows a dividend hike of 10.0 percent to $0.22 per share in 2020 and marks 4 consecutive years of dividend increases by the independent oil and gas exploration and production company.

The next dividend is payable on June 1, 2021, to stockholders of record on May 14, 2021. A new annual dividend payment of $1.08 cents per share yields about 1.5% at a stock price of $71.49.

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. The company's operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region. Its Permian Basin region encompasses west Texas and southeast New Mexico. Its Mid-Continent region consists of Oklahoma and the Texas Panhandle.