Devon Energy Hikes Dividend 10%, Shares Edge Higher

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Devon Energy ( DVN ) said it was hiking the cash dividend on its common stock by 10% to $0.22, payable on June 28.

The oil and gas company has increased dividends eight times since 2004, giving a compound growth rate of 24%, the company said.

The shares, which opened up but had dipped into negative territory shortly after noon, are heading higher again after the dividend announcement. They last changed hands at $54.17, up $0.09.

Shares of DVN are up 0.2% to $54.17 in afternoon trading, amid a 52-week range of $50.89 - $76.34.



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This article appears in: Investing , Commodities

Referenced Stocks: DVN

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