Devon Energy Declares Cash Dividend

Devon Energy says that its board of directors declared a quarterly cash dividend on Devon's common stock for the third quarter of 2007. The dividend is payable on September 28, 2007, at a rate of $0.14 per share based on a record date of September 14, 2007.

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 September 28, 2007. The record date for the dividend is September 14, 2007.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is one of the world's leading independent oil and gas producers and is included in the S&P 500 Index.

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