Want $1,000 in Dividend Income? Here's How Much You Have to Invest in Devon Energy Stock.
Devon Energy (NYSE: DVN) stock gained massive popularity among income investors after it launched the oil industry's first fixed-plus-variable dividend policy in 2021. Every time crude oil prices rise, so does Devon's dividend payout, making it one of the most intriguing dividend stocks in the energy sector.
Here's how you can earn $1,000 in annual dividend income from this oil stock.
Devon pays a fixed dividend every quarter, plus a variable dividend of up to 50% of the excess free cash flow (FCF) it generates during the period. For example, the company just declared a dividend of $0.44 per share for its second quarter, comprising a fixed and variable payout of $0.22 each per share.
Source Fool.com
