Devon Energy (NYSE:DVN) has elected to stick to its existing dividend payout.
The company today declared a common stock distribution of $0.22 per share for its Q4, to be paid on Dec. 31 to shareholders of record as of Dec. 13. That amount matches the firm's previous two declared payouts, the latter of which will be dispensed on Sept. 30. Prior to that, Devon Energy was less generous by $0.02, handing out $0.20 per share.
In the press release announcing the news, the company pointed out that it has paid quarterly dividends on a consistent basis since 1993.
The just-declared dividend annualizes to $0.88 per share. That yields 1.5% at Devon Energy's current stock price of $59.00.
Fool contributor Eric Volkman has no position in Devon Energy. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.