This Oil Stock's Dividend Is Gushing Higher With Rebounding Oil Prices
Oil stock dividends have been almost as volatile as oil prices in recent years. Many oil producers slashed their payouts following crude price crashes in 2014 and 2020. While some companies boosted them as oil rebounded between those downturns, several had to cut them again on the subsequent sell-off.
That led Devon Energy (NYSE: DVN) to take a new approach by launching the industry's first fixed plus variable dividend framework. It features a reasonable base payout that Devon can sustain at lower prices and additional cash payments when crude prices rebound. The company recently declared its first variable dividend, which was a gusher thanks to higher oil prices.
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Source Fool.com
