Devon Energy Declares Increased Cash Dividend for Common Stockholders

  Devon Energy Declares Increased Cash Dividend for Common Stockholders

Business Wire

OKLAHOMA CITY -- March 6, 2013

Devon Energy Corporation (NYSE:DVN) today announced that its board of
directors has approved a 10 percent increase to its quarterly cash dividend on
the company’s common stock from $0.20 per share to $0.22 per share. The
increase is effective with the dividend payable on June 28, 2013 to
shareholders of record as of the close of business on June 14, 2013.

“This is Devon’s eighth dividend increase since 2004, representing an annual
compound growth rate of 24 percent,” said Jeff Agosta, chief financial
officer. “Our dividend increase highlights Devon’s long-term commitment to
returning cash to our shareholders and ultimately reflects the confidence we
have in our underlying business.”

Devon Energy Corporation is an Oklahoma City-based independent energy company
engaged in oil and gas exploration and production. Devon is a leading
U.S.-based independent oil and gas producer and is included in the S&P 500
Index. For additional information, visit www.devonenergy.com.

Contact:

Devon Energy Corporation
Investor Contacts
Scott Coody, 405-552-4735
or
Shea Snyder, 405-552-4782
or
Media Contact
Chip Minty, 405-228-8647
 
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