OKLAHOMA CITY, Mar 03, 2011 (BUSINESS WIRE) --
Devon Energy Corporation (NYSE:DVN) today announced that its board of
directors has increased the amount of the quarterly cash dividend on
Devon's common stock by approximately six percent. The amount of the
dividend declared for the second quarter of 2011 is $0.17 per share. The
dividend is payable on June 30, 2011 based on a record date of June 15,
2011.
"The increase in our quarterly cash dividend underscores Devon's
financial strength and our commitment to optimizing returns to our
shareholders," said Larry Nichols, Devon's Executive Chairman. "The
increased dividend supplements our ongoing $3.5 billion share repurchase
program and reflects the board's confidence 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 more information about Devon, please visit our
website at www.devonenergy.com.
SOURCE: Devon Energy Corporation
Devon Energy Corporation
Investor Contact
Shea Snyder, 405-552-4782
or
Media Contact
Chip Minty, 405-228-8647