Incredible! All that SPAC talk but this really caught my attention -- Devon Energy announces industry-first variable cash dividend for common stockholders. Yeah, so there it is. I'm just a "common" stockholder. LOL. Common. Link here. Pretty cool.
Board declares $0.19 per share variable cash dividend based on fourth-quarter results
Variable dividend is in addition to previously declared fixed quarterly dividend of $0.11 per share
Both fixed and variable dividends are payable on Mar. 31, 2021
The company’s “fixed plus variable” dividend framework was implemented following closing of the merger with WPX Energy on Jan. 7, 2021. This cash-return strategy is designed to pay a sustainable fixed dividend and evaluate a variable dividend on a quarterly basis. After the fixed dividend is funded, up to 50 percent of the remaining excess free cash flow in each quarter may be distributed to shareholders through a variable dividend.
Hoping to see other oil companies do the same.