Devon Energy Corporation (NYSE:DVN) announced its quarterly dividend of 17 cents per share, an increase of about 6% over its prior dividend in December of 16 cents. Said Larry Nichols, Devon’s Executive Chairman, “The increased dividend supplements our ongoing $3.5 billion share repurchase program and reflects the board’s confidence in our underlying business.”
Shares are higher by about four tenths of a percent.
In other dividend news, Hess Corporation (NYSE:HES) maintained its quarterly dividend of 10 cents per share. Torchmark Corporation (NYSE:TMK) maintained its quarterly dividend of 16 cents per share.
Among dividend increases, General Dynamics Corporation (NYSE:GD) announced its quarterly dividend of 47 cents per share, an increase of about 12% over its prior dividend in January of 42 cents. Mead Johnson Nutrition Company (NYSE:MJN) announced its quarterly dividend of 26 cents per share, an increase of about 16% over its prior dividend in December of 22.5 cents.
Among dividend reductions, Sabine Royalty Trust (NYSE:SBR) announced its monthly dividend of 20.103 cents per share, a decrease of about 25% from its prior dividend in February of 26.8 cents.
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