Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

DEVON ENERGY CORPORATION

(DVN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Devon Energy : Dividend News Release

05/04/2021 | 04:09pm EDT

Devon Energy Corporation

333 West Sheridan Avenue

Oklahoma City, OK 73102-5015

Devon Energy Announces Fixed-Plus-Variable Dividend for Common Stockholders

KEY MESSAGES

  • Board declares fixed-plus-variable dividend of $0.34 per share based on first-quarter 2021 results
  • Dividend payout represents a 13 percent increase compared to the previous quarter
  • Both fixed and variable dividends are payable on Jun. 30, 2021

OKLAHOMA CITY - May 4, 2021 - Devon Energy Corp. (NYSE: DVN) announced today that its board of directors has declared a fixed-plus-variable dividend of $0.34 per share based on the company's first quarter financial performance. This represents a 13 percent increase in payout compared to the dividend declared for the fourth quarter of 2020. Both the fixed quarterly dividend of $0.11 per share and the variable dividend of $0.23 per share are payable on Jun. 30, 2021 to shareholders of record at the close of business on Jun. 14, 2021.

"We are excited to reward shareholders and to continue to differentiate ourselves from peers by accelerating cash returns to shareholders through our innovative fixed-plus-variable dividend framework," said Rick Muncrief, president and CEO. "This uniquely designed dividend strategy provides us the flexibility to return meaningful and appropriate amounts of cash to shareholders across a variety of market conditions."

The company's fixed-plus-variable dividend framework is designed to pay a sustainable fixed dividend through the cycle and evaluate a variable dividend on a quarterly basis. After the fixed dividend is funded, up to 50 percent of the remaining excess free cash flow in each quarter may be distributed to shareholders through a variable dividend.

ABOUT DEVON ENERGY

Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world- class acreage position in the Delaware Basin. Devon's disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.

Investor Contacts

Media Contact

Scott Coody, 405-552-4735

Lisa Adams, 405-228-1732

Chris Carr, 405-228-2496

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Devon. These risks include, but are not limited to: the risk that Devon may reduce, suspend or totally eliminate dividend payments in the future, whether variable or fixed, due to insufficient liquidity or other factors; and the other risks identified in Devon's 2020 Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially and adversely from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and Devon does not undertake, and expressly disclaim, any duty to update or revise our forward-looking statements based on new information, future events or otherwise.

Disclaimer

Devon Energy Corporation published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 20:08:10 UTC.


© Publicnow 2021
All news about DEVON ENERGY CORPORATION
09:20aTODAY ON WALL STREET : We’re not done with cyclicals yet
06:56aDEVON ENERGY  : Morgan Stanley Downgrades Devon Energy to Equal-Weight From Over..
MT
05:53aANALYST RECOMMENDATIONS : American Express, HSBC, CyrusOne, Microsoft, Vodafone...
06/17DEVON ENERGY  : Northland Securities Adjusts Devon Energy PT to $34 From $30, Ma..
MT
06/16OPTIONS : Option Implied Volatility amid WTI Oil Above $72
MT
06/15Interest in Shell's Permian assets seen as a bellwether for shale demand
RE
06/15Interest in Shell's Permian assets seen as a bellwether for shale demand
RE
06/11DEVON ENERGY CORP/DE  : Submission of Matters to a Vote of Security Holders (for..
AQ
06/11Goldman Sachs Raises Price Targets on Energy Stocks Amid Boost in Firm's Oil ..
MT
06/11DEVON ENERGY  : Goldman Sachs Boosts Price Target on Devon Energy to $37 From $3..
MT
More news
Financials (USD)
Sales 2021 7 991 M - -
Net income 2021 1 396 M - -
Net Debt 2021 4 457 M - -
P/E ratio 2021 14,1x
Yield 2021 2,37%
Capitalization 18 675 M 18 675 M -
EV / Sales 2021 2,89x
EV / Sales 2022 2,54x
Nbr of Employees 1 400
Free-Float 93,2%
Chart DEVON ENERGY CORPORATION
Duration : Period :
Devon Energy Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEVON ENERGY CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 33
Average target price 34,54 $
Last Close Price 27,59 $
Spread / Highest target 63,1%
Spread / Average Target 25,2%
Spread / Lowest Target -2,14%
EPS Revisions
Managers and Directors
NameTitle
Richard E. Muncrief President, Chief Executive Officer & Director
Jeffrey L. Ritenour Chief Financial Officer & Executive Vice President
David A. Hager Executive Chairman
Trey Lowe Vice President-Technology
Clay M. Gaspar Chief Operating Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
DEVON ENERGY CORPORATION74.51%18 675
CONOCOPHILLIPS47.56%79 629
CNOOC LIMITED23.12%50 829
EOG RESOURCES, INC.63.28%47 523
CANADIAN NATURAL RESOURCES LIMITED41.52%41 553
PIONEER NATURAL RESOURCES COMPANY38.29%38 423