While it moves ahead with its all-stock merger with Tulsa-based WPX Energy, Devon Energy Corp. announced Wednesday a quarterly cash dividend on its common stock in the first quarter of 2021.
The 11-cent a share dividend will be payable on March 31, 2021 on a record date of March 15, 2021 according to the declaration made by the company’s board of directors.
It was in late September when Devon announced it had entered into a deal to combine in an all-stock merger with WPX Energy, a merger that is expected to be completed in the first quarter of 2021.
When complete, the transaction will leave Devon shareholders owning about 57% of the combined company and WPX shareholders with about 43% ownership.
