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Data last updated: Aug 17, 2026
Snapshot (as of Aug 17, 2026): Devon Energy Corporation (DVN) pays a $1.04 annual dividend ($0.32 quarterly), yielding 2.27% at $45.85/share. Next ex-dividend date 2026-09-15. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.27%
Annual Dividend: $1.04 per share
Payout Ratio: 25.0%
Ex-Dividend Date: 2026-09-15
Dividend Frequency: quarterly
Sector: Energy
Years of Dividend History: 34
Devon Energy Corporation dividend investors are looking at an independent U.S. oil and natural gas producer with 34 years of dividend history. DVN currently yields 2.27%, with a trailing annual dividend rate of $1.04 per share paid quarterly. The next ex-dividend date is September 15, 2026. With a beta of 0.419, Devon Energy Corporation stock moves well below the broader market, which appeals to income investors who want energy exposure without extreme price swings.
Devon Energy Corporation pays out 25.0% of earnings as dividends, a payout ratio classified as conservative (below 40%). That low payout leaves substantial room to absorb earnings pressure before the dividend comes under threat, which matters in an industry where oil and natural gas prices can shift sharply. Devon Energy Corporation dividend safety faces its clearest test from commodity price volatility: as an exploration and production company, DVN's earnings are directly tied to energy prices, and a sustained downturn in oil or gas markets would compress the earnings base supporting that 25% payout.
Devon Energy Corporation dividend history shows a CAGR of 16.5% per year from 2006 to 2022. Per-share payments grew from $0.45 to $5.17 over that window (2026 is a partial year and excluded from this calculation, as is Devon Energy Corporation dividend 2026 data). The largest annual increase in the window was 189.7% in 2021, though the data also contains at least one year-over-year decline exceeding 5%, so that headline growth rate comes with real volatility attached.
| Period | CAGR | From | To |
|---|---|---|---|
| 5-Year | +7.1% | $0.68 (2020) | $0.96 (2025) |
| 10-Year | 0.0% | $0.96 (2015) | $0.96 (2025) |
DVN fits dividend investors who want energy sector income and can tolerate a payment structure that moves with commodity cycles. The current yield of 2.27% falls in the moderate (2-4%) range, and it sits well below the 5-year average yield of 5.42%, which reflects how much the payout has pulled back from its 2022 peak. The 25% payout ratio is genuinely conservative, giving Devon Energy Corporation room to sustain payments even if earnings soften. The trade-off is clear: this is not a set-and-forget income stock. The dividend has moved dramatically in both directions, and investors accept that variability in exchange for low payout risk and energy sector exposure.
| Payment Date | Amount per Share |
|---|---|
| 2026-09-15 | $0.3200 |
| 2026-06-15 | $0.3200 |
| 2026-03-13 | $0.2400 |
| 2025-12-15 | $0.2400 |
| 2025-09-15 | $0.2400 |
| 2025-06-13 | $0.2400 |
| 2025-03-14 | $0.2400 |
| 2024-12-13 | $0.2200 |
| 2024-09-13 | $0.4400 |
| 2024-06-14 | $0.3500 |
| Year | Total Dividends |
|---|---|
| 2026 | $0.8800 |
| 2025 | $0.9600 |
| 2024 | $1.4500 |
| 2023 | $2.8700 |
| 2022 | $5.1700 |
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