StockMarketWire.com - Kosmos Energy said it would pay a maiden dividend in the current year after swinging to profit the back of strong fourth quarter revenues.

Shareholders would receive $0.0452 per share for the three months through December.

For the fourth quarter of 2018, the company generated a net gain of $186m, compared to net loss of $122m in the same period last year.

Revenues rose to $301.4m for the year, from $187.1m in the same quarter of 2017, on sales of 5.1m barrels of oil equivalent in 2018 as compared to 2.9m barrels of oil equivalent in 2017.

'Kosmos is stronger than ever and the confidence we have in the future prospects for the company is demonstrated by the initiation of a dividend for 2019, the first in the company's history,' the company said.

At market close: [LON:KOS] Kosmos Energy Ltd share price was +25.55p at 475.55p



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