DVN -- August 1, 2022

The new dividend:

• quarterly = $1.55
• 4 x $1.55 = $6.20
• current DVN price: $62
• dividend annual yield: 10%

From Reuters:

• 2Q22
• surpassed estimates
• raised quarterly dividend by 22%
• to $1.55 from $1.27
• lifted its 2022 (this year) production forecast too 600,000 bopd fromo 570,000 bopd
• due to better-than-expected (say what?) well performance; and,
• acquisition of Williston Basin assets (say what?)
• net earnings:
• $1.93 billion vs $256 million one year ago;
• $2.93 per share vs 38 cents / share a year ago;

The biggest takeaway for me with regard to DVN's earnings and share price:

• investors want dividends, not share buybacks.