DVN Dividend Yield 2026: Devon Energy Corporation

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Data last updated: Jul 06, 2026

Dividend Yield: 2.57%

Annual Dividend: $1.04 per share

Payout Ratio: 26.9%

Ex-Dividend Date: 2026-06-15

Dividend Frequency: quarterly

Sector: Energy

Years of Dividend History: 34

About Devon Energy Corporation Dividend

Devon Energy Corporation dividend investors are looking at an independent U.S. oil, natural gas, and natural gas liquids producer with 34 years of dividend history. DVN currently pays a 2.57% yield, with trailing annual payments of $1.04 per share delivered quarterly. The next ex-dividend date is June 15, 2026, with the last declared payment at $0.32 per share. A beta of 0.432 means DVN stock moves at less than half the volatility of the broader market, which suits income investors who want energy exposure without extreme price swings.

Dividend Safety

Devon Energy Corporation pays out 26.9% 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 faces any threat, a meaningful buffer for a company whose revenue is tied to commodity prices. Devon Energy Corporation dividend safety is most directly tested by oil and gas price cycles, since the business description does not reference hedging programs or contracted revenue streams, meaning earnings can swing sharply with commodity markets.

Devon Energy Corporation (DVN) Dividend Growth Rate, CAGR, and History

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 in the window was 189.7% in 2021, but the history also contains at least one year-over-year decline exceeding 5%, so growth has been anything but linear.

Devon Energy Corporation Dividend Growth Rate (CAGR)

Period	CAGR	From	To
5-Year	+7.1%	$0.68 (2020)	$0.96 (2025)
10-Year	0.0%	$0.96 (2015)	$0.96 (2025)

Is Devon Energy Corporation a Good Dividend Stock?

DVN fits dividend investors who want energy sector exposure and can accept a payment that moves with commodity cycles rather than one that grinds higher every year. The current yield of 2.57% sits in the moderate (2-4%) range, well below the 5-year average of 6.14%, which reflects how far the payout has pulled back from its 2022 peak. The 26.9% payout ratio is the clearest positive here: it keeps the dividend defensible even if earnings soften. What an investor gets is a low-volatility energy stock with a conservative payout structure. What they accept is a yield that has compressed sharply from its historical highs and zero consecutive years of dividend increases.

Recent Devon Energy Corporation Dividend Payments

Payment Date	Amount per Share
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
2024-03-14	$0.4400

Devon Energy Corporation Annual Dividend History

Year	Total Dividends
2026	$0.5600
2025	$0.9600
2024	$1.4500
2023	$2.8700
2022	$5.1700

Related Energy Dividend Stocks

• XOM — Exxon Mobil Corporation (2.98% yield)
• CVX — Chevron Corporation (4.13% yield)
• PCCYF — PetroChina Company Limited (5.17% yield)
• SHEL — Shell plc (3.81% yield)
• ENB — Enbridge Inc. (4.99% yield)
• BP — BP p.l.c. (5.33% yield)

Frequently Asked Questions

How often does Devon Energy Corporation pay dividends?

Devon Energy Corporation pays dividends quarterly, with the last payment at $0.32 per share. The next ex-dividend date is June 15, 2026.

What is Devon Energy Corporation's current dividend yield?

The current DVN dividend yield is 2.57%, which is well below the 5-year average yield of 6.14%. That gap reflects the significant reduction in per-share payments since the 2022 peak of $5.17 annually.

Has Devon Energy Corporation ever cut its dividend?

Yes. The available history shows at least one year-over-year decline exceeding 5%. Annual payments dropped from $5.17 in 2022 to lower levels in subsequent years, representing a material reduction from peak payouts.

How fast has Devon Energy Corporation grown its dividend?

Devon Energy Corporation grew its dividend at a compound annual growth rate (CAGR) of 16.5% per year from 2006 to 2022. That figure includes a 189.7% single-year jump in 2021, so the growth has been highly uneven rather than steady.

Is Devon Energy Corporation dividend safe?

The 26.9% payout ratio is conservative (below 40%), which means the current payment is well-covered by earnings. The primary risk is commodity price exposure: as an oil and gas producer, Devon Energy Corporation's earnings can fall sharply if energy prices decline, which would pressure the dividend.

What type of investor is Devon Energy Corporation best suited for?

DVN fits dividend investors who want energy sector exposure with below-average price volatility, as the beta of 0.432 is low. Investors who prioritize a growing, predictable income stream will find the lack of consecutive dividend increases and the yield's distance from its 5-year average less appealing.

How does Devon Energy Corporation compare to its own historical yield?

The current yield of 2.57% is well below the 5-year average of 6.14%. That means income investors buying Devon Energy Corporation stock today are locking in a yield that is less than half of what the stock has averaged over the past five years.

Latest DVN News

• Westerkirk Capital Inc. Increases Holdings in Devon Energy Corporation $DVN - MarketBeat — MarketBeat
• JPMorgan Reinstates Devon Energy (DVN) as Overweight on Valuation Appeal - Yahoo Finance — Yahoo Finance
• Devon Energy stock (US25179M1036): Permian expansion and dividend profile in focus - AD HOC NEWS — AD HOC NEWS

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