Devon Energy Declares Cash Dividend

Devon Energy Corporation (NYSE: DVN) announced that its board of directors ha sdeclared a quarterly cash dividend on Devon's common stock for the second quarter of 2006. The dividend is payable on June 30, 2006, at a rate of 11.25 cents per share based on a record date of June 15, 2006.

Devon also announced that its board of directors declared a quarterly cash dividend on its 6.49 percent cumulative preferred stock, series A. The dividend rate is $1.6225 per share and is payable on June 30, 2006. The record date for the dividend is June 15, 2006.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration, production and property acquisitions. Devon is the largest U.S.-based independent oil and gas producer and is included in the S&P 500 Index.

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