DVN · 8-K · 20260804PR332824

Capital Return Program

DEVON ENERGY CORP/DE · 2026-08-04 · Importance 84 · Surprise 74 · In source text

Devon returned $1.063 billion during the second quarter through dividends, share repurchases and retirement of maturing debt. The board increased the quarterly fixed dividend by 33% to $0.32 per share, and the second-quarter dividend totaled $366 million. Devon repurchased 4.3 million shares for $197 million during the final seven weeks of the quarter. The company’s new share repurchase authorization totals $8.0 billion, with $7.8 billion remaining and an expiration date in mid-2029.

Key facts

• Board approved a 33 percent increase to the quarterly fixed dividend rate to $0.32 per share following the merger close. source
• The company has a new $8.0 billion share repurchase program approved by the board in conjunction with the merger close. source
• Returned $1,063 million during the quarter through a combination of an increased quarterly dividend of $0.32 per share, renewed share repurchases and retirement of maturing debt. source
• For the third quarter, Devon declared a fixed quarterly cash dividend of $0.32 per share, payable on Sep. 30, 2026, to shareholders of record at the close of business on Sep. 15, 2026. source
• The share repurchase authorization extends through mid-2029. source
• During the last seven weeks of the second quarter, the company repurchased 4.3 million shares for $197 million, leaving $7.8 billion of remaining capacity on the authorization. source
• The second-quarter dividend totaled $366 million and was paid on Jun. 30, 2026. source

Impact estimates