Devon Energy

Devon Energy is a publicly traded company having a good stock performance result. Devon Energy is a fortune 500 stock listed company trading under DVN.

The company was founded in 1971 and is based in Oklahoma City, Oklahoma. J. Larry Nichols, 63, is a co-founder of Devon.

DVN is the largest U.S.-based independent oil and gas producer and one of the largest independent processors of natural gas and natural gas liquids in North America, The Company’s portfolio of oil and gas properties provides stable, environmentally responsible production and a platform for future growth. About 88 percent of Devon's production is from North America.

The company also operates in selected international areas, including Brazil, West Africa, the Middle East and China. The company's production mix is about 60 percent natural gas and 40 percent oil and natural gas liquids, such as propane, butane and ethane. Devon produces 2.2 billion cubic feet of natural gas each day, about 3 percent of all the gas consumed in North America.

Devon Energy Corporation today announced that its board of directors has increased the amount of the quarterly cash dividend on its common stock. The amount of the dividend declared for the first quarter of 2006 is 11.25 cents per share. This is a 50 percent increase over the previous quarterly dividend of 7.5 cents per share.

Devon Energy Corp. on increased its quarterly cash dividend to 11.25 cents from 7.5 cents. Devon also declared a quarterly cash dividend on its 6.49 percent cumulative preferred stock, series A. The record date for the dividend is March 15; Shares rose 54 cents to close at 59.17 dollars on the New York Stock Exchange, and then added 3 cents in aftermarket electronic trading. They produced 226 million Boe in 2005, representing a 10 percent decrease compared to 2004.