Devon Energy (DVN +1.40%) 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.
