Devon Energy Continues Strong Dividend Payment

Dividend Yield of 4.44%

Quarterly Cash Dividends Expected to Continue

Devon Energy Corporation (NYSE: DVN) announced today that it expects to continue paying regular quarterly cash dividends for the foreseeable future. The company's current dividend yield is 4.44%, reflecting the company's strong financial performance and commitment to returning value to shareholders.

Devon Energy has a long history of paying dividends to shareholders and has increased its dividend payout ratio each year for the past 12 years. The company's dividend policy is supported by its strong cash flow generation, which has been driven by rising oil and gas prices. Devon Energy has also been able to reduce its debt levels, which has improved its financial flexibility and ability to pay dividends.

"We are pleased to continue our commitment to paying regular quarterly cash dividends to our shareholders," said Dave Hager, Devon Energy's President and CEO. "Our strong financial position allows us to return capital to our shareholders while continuing to invest in our business and grow our production."

Devon Energy's next dividend payment is expected to be made on June 28, 2024, to shareholders of record as of June 10, 2024. The company's current dividend yield is 2.97%, which is above the average yield for the S&P 500 index. Devon Energy's dividend policy is a key part of its commitment to creating value for shareholders and is expected to continue to be a key component of the company's long-term growth strategy.