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Data last updated: Oct 02, 2026
Snapshot (as of Oct 02, 2026): Devon Energy Corporation (DVN) pays a $1.12 annual dividend ($0.32 quarterly), yielding 2.37% at $47.16/share. Next ex-dividend date 2026-09-15. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.37%
Annual Dividend: $1.12 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 income comes from an independent U.S. oil, natural gas, and natural gas liquids producer operating roughly 5,134 gross wells. DVN currently yields 2.31%, with a trailing annual dividend rate of $1.12 per share paid quarterly. The next ex-dividend date is September 15, 2026. A beta of 0.426 means DVN moves less than half as much as 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 maintain the dividend even if oil and gas prices pull earnings lower. Devon Energy Corporation dividend safety is most directly threatened by commodity price volatility: as an exploration and production company, DVN's earnings are tied to energy prices, and the dividend history shows meaningful cuts have occurred when those prices fell sharply.
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). The largest single-year jump was 189.7% in 2021, but the window also contains at least one year-over-year decline exceeding 5%, which reflects how directly DVN's dividend is tied to commodity price cycles.
| 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 without an outsized payout commitment. The yield of 2.31% is moderate (2-4%), and it sits well below the 5-year average yield of 5.13%, meaning today's entry point delivers less income than the historical norm. The 25.0% payout ratio is the real story: it keeps the dividend defensible when oil prices drop, but it also means DVN does not maximize income distribution. Investors get a low-commitment payout structure and a historically fast-growing dividend, accepting that the current yield is modest and that payments have moved sharply with commodity cycles.
| 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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