Devon Energy's Decision to De-Emphasize the Dividend Could Pay Off [Yahoo! Finance]
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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US:NYSE Investor Relations:
investors.devonenergy.com/investors/events-presentations/default.aspx
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Source: Yahoo! Finance
It aimed to pay a fixed base dividend each quarter and up to 50% of its excess free cash flow in variable dividends. Higher oil prices in 2022 sent its free cash flow and variable dividend payments soaring. However, the company shifted its capital return framework this year to give it more flexibility. As a result, its dividend payment was much lower in the first quarter as it emphasized repurchasing its shares. That change could pay off for shareholders in the long run. The dividend's downward trend Devon Energy recently reported its first-quarter results and declared its latest dividend payment . The company is paying $0.35 per share in dividends, consisting of a $0.22 per share base dividend (which it increased by 10% earlier this year) and a $0.13 per share variable dividend. That combined payout was near Devon's lowest level since it launched the new framework in 2021. Devon Energy's most recent combined dividend payment cost the company $225 million ($143 million fixed a
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DVN
News
- Devon Energy: Discipline Paying Off [Seeking Alpha]Seeking Alpha
- Is Devon Energy Stock a Buy? [Yahoo! Finance]Yahoo! Finance
- Devon Energy: Healthy Production Trends And Shareholder-Friendly Moves [Seeking Alpha]Seeking Alpha
- Devon Energy Believes It Offers 'Incredible Value' - I Agree [Seeking Alpha]Seeking Alpha
- Devon Energy Co. (NYSE: DVN) had its price target raised by analysts at Piper Sandler from $60.00 to $61.00. They now have an "overweight" rating on the stock.MarketBeat
DVN
Earnings
- 5/1/24 - Beat
DVN
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 144
- 5/3/24 - Form PX14A6G
- DVN's page on the SEC website