(Reuters) – Pioneer Pure Sources (NYSE:) Co reported a five-fold soar in first-quarter revenue on Wednesday and raised its dividend, because the U.S. shale producer benefited from hovering power costs following the Ukraine disaster.

The Dallas, Texas-based agency boosted its quarterly dividend by 95% to $7.38 per share.

Producers are prioritizing shareholder returns over manufacturing ramp-ups, whilst Western sanctions on Russia despatched crude costs to 14-year-highs throughout the quarter. U.S. WTI settled at $107.81 on Wednesday, up 64% from a yr in the past.

The largest U.S. oil producer, Exxon Mobil Corp (NYSE:), tripled the scale of its buyback program final week.

Pioneer’s adjusted revenue rose to $1.98 billion, or $7.74 per share, within the quarter ended March 31, from $396 million, or $1.77 per share, an yr earlier.

Final week, Pioneer stated its first-quarter manufacturing averaged 355,000 barrels of oil per day (bopd) and 638,000 barrels of oil equal per day (boepd) in contrast with 281,000 bopd and 474,000 boepd, a yr earlier.

Pioneer’s outcomes mirrored these of rivals Devon Power (NYSE:), Diamondback (NASDAQ:) Power and Coterra Power, which raised their shareholder payouts on Monday after posting better-than-expected surges in revenue.