Devon Energy pays special dividend

Devon Energy (DVN) will pay a special dividend of 19 cents per share in 2021. Last year the oil company raised its quarterly dividend by 22.5 percent to $0.11 per share and also  26 cent special dividend was paid to shareholders.

The special dividend is payable on March 31, 2021, to shareholders of record as of the close of business on March 15, 2021. A regular annual dividend rate of 44 cents yields 2% at a stock price of $21.88. The special dividend is in addition to the regular quarterly cash dividend of $0.11 per share.

Devon Energy is an energy company engaged primarily in the exploration, development and production of oil, natural gas and NGLs. The company's operations are concentrated in various North American onshore areas in the U.S. and Canada. In July 2018, Devon exited the midstream business by divesting its aggregate ownership interests in EnLink and the General Partner.  Devon Energy was formed in 1971 and has been publicly held since 1988.