Devon Energy Declares Increased Cash Dividend for Common Stockholders
OKLAHOMA CITY--(BUSINESS WIRE)-- Devon Energy Corporation (DVN) today announced that its board of directors has approved a 10 percent increase to its quarterly cash dividend on the companys common stock from $0.20 per share to $0.22 per share. The increase is effective with the dividend payable on June 28, 2013 to shareholders of record as of the close of business on June 14, 2013.
This is Devons eighth dividend increase since 2004, representing an annual compound growth rate of 24 percent, said Jeff Agosta, chief financial officer. Our dividend increase highlights Devons long-term commitment to returning cash to our shareholders and ultimately reflects the confidence we have in our underlying business.
Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is a leading U.S.-based independent oil and gas producer and is included in the S&P 500 Index. For additional information, visit www.devonenergy.com.
Devon Energy Corporation
Scott Coody, 405-552-4735
Shea Snyder, 405-552-4782
Chip Minty, 405-228-8647
Source: Devon Energy CorporationCopyright Business Wire 2013