Devon Energy (MEX:DVN) Dividend Payout Ratio: 0.23 (As of Mar. 2026) — 55% Below Median

What is Devon Energy Dividend Payout Ratio?

Devon Energy MEX:DVN -1.13% 79 Dividend Payout Ratio is 0.23 as of Mar. 2026, which is 55% below its 10-year median of 0.51. GuruFocus rates MEX:DVN with a GF Score™ of 79/100 and a GF Value™ of MXN876.95 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 433 Oil & Gas companies, Devon Energy ranks better than 81.99% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Devon Energy's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.23.

The historical rank and industry rank for Devon Energy's Dividend Payout Ratio or its related term are showing as below:

MEX:DVN' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.25 Med: 0.51 Max: 1.85
Current: 0.26

During the past 13 years, the highest Dividend Payout Ratio of Devon Energy was 1.85. The lowest was 0.25. And the median was 0.51.

MEX:DVN's Dividend Payout Ratio is ranked better than
81.99% of 433 companies
in the Oil & Gas industry
Industry Median: 0.5 vs MEX:DVN: 0.26

As of today (2026-07-03), the Dividend Yield % of Devon Energy is 2.67%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Devon Energy was 11.20%. The lowest was 0.54%. And the median was 2.83%.

Devon Energy's Dividends per Share for the months ended in Mar. 2026 was MXN4.33.

During the past 12 months, Devon Energy's average Dividends Per Share Growth Rate was -23.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was -42.90% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 7.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 19.80% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Devon Energy was 145.40% per year. The lowest was -42.90% per year. And the median was 10.25% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Devon Energy (MEX:DVN) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Devon Energy Dividend Payout Ratio Related Terms

Devon Energy Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Devon Energy's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Devon Energy Dividend Payout Ratio Chart

Devon Energy Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Dividend Payout Ratio

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0.56

0.62

0.50

0.30

0.25

Devon Energy Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															0.22	0.29	0.23	0.29	0.23

MEX:DVN vs OXY, FANG, EQT: Dividend Payout Ratio Comparison

For the Oil & Gas E&P subindustry, Devon Energy's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Devon Energy Dividend Payout Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Devon Energy's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Devon Energy's Dividend Payout Ratio falls into.

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79GF Score

Devon Energy Corp MEX:DVN

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Devon Energy Dividend Payout Ratio Calculation

Devon Energy's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Dec. 2025 )	/	EPS without NRI (A: Dec. 2025 )
	=	17.285	/	70.582
	=	0.24

Devon Energy's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	4.328	/	18.754
	=	0.23

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.23 mean?

Devon Energy (MEX:DVN) has a Dividend Payout Ratio of 0.23 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Devon Energy and its competitors. This is 55% below median its historical median of 0.51. Over the past decade, Devon Energy's Dividend Payout Ratio has ranged from 0.25 to 1.85. According to the industry distribution chart, Devon Energy ranks #78 out of 433 companies in the Oil & Gas industry, placing it in the top 18%.

Is Devon Energy's Dividend Payout Ratio too high?

Devon Energy's current Dividend Payout Ratio of 0.23 is 55% below median its 10-year median of 0.51. Over the past 10 years, this metric has ranged from a low of 0.25 to a high of 1.85. The Oil & Gas industry median Dividend Payout Ratio is 0.50. Devon Energy's value of 0.23 is 54% below this industry median. Based on the distribution chart, Devon Energy ranks #78 out of 433 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Devon Energy has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Devon Energy's Dividend Payout Ratio compare to OXY and FANG?

According to the Oil & Gas industry distribution chart, Devon Energy ranks #78 out of 433 companies for Dividend Payout Ratio. This places Devon Energy in the top 18% of its industry — outperforming the majority of peers. The industry median Dividend Payout Ratio is 0.50. Devon Energy's value of 0.23 is 54% below this benchmark. Historically, Devon Energy's own Dividend Payout Ratio has ranged from 0.25 to 1.85 over the past decade. While the company's 10-year median is 0.51 vs. the industry median of 0.50, Devon Energy has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for an Oil & Gas company?

The median Dividend Payout Ratio among Oil & Gas companies is 0.50, based on 433 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Devon Energy's current Dividend Payout Ratio of 0.23 is 54% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Devon Energy and its competitors. For the Oil & Gas industry, the median Dividend Payout Ratio is 0.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Devon Energy's current Dividend Payout Ratio is 0.23, which is 55% below median its own 10-year median of 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Devon Energy stock overvalued right now?

Based on GuruFocus' analysis, Devon Energy (MEX:DVN) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN876.95, compared to a current price of MXN700.00 — trading 20.2% below its estimated fair value. The current Dividend Payout Ratio is 0.23, which is 55% below median its 10-year median of 0.51 and 54% below the Oil & Gas industry median of 0.50. Devon Energy's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Devon Energy (MEX:DVN), the current Dividend Payout Ratio is 0.23 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Devon Energy (MEX:DVN) Overvalued in 2026?

Based on GuruFocus' analysis, Devon Energy stock appears to be undervalued. The current stock price of MXN700.00 is trading 20.2% below its estimated GF Value™ of MXN876.95. GuruFocus considers Devon Energy to be Modestly Undervalued.

Key valuation signals for MEX:DVN:

Dividend Payout Ratio: 0.23 (55% below median its 10-year median of 0.51)
GF Value™: MXN876.95 vs. price of MXN700.00 (20.2% below fair value)
GF Score™: 79/100 with 4 warning signs
Industry Position: 54% below the Oil & Gas median (#78 of 433)

No single metric tells the full story. See the MEX:DVN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Devon Energy Business Description

Industry Energy Oil & Gas

Comparable Companies OXY FANG EQT TPL EOG EXE PR OVV APA AR HKSE:00883 COP TSX:CNQ MIC:NVTK ASX:WDS TSE:1605 OSL:AKRBP TSX:TOU ASX:STO BKK:PTTEP

Other Exchanges DVN:USA 1DY6:Italy 0I8W:UK DY6:Germany D1VN34:Brazil DY6:Bulgaria DVN:Austria

Address 333 West Sheridan Avenue, Oklahoma, OK, USA, 73102-5015

Website https://www.devonenergy.com

Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two-thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. After the merger with Coterra, it will have a foothold in the gas-driven Appalachian Basin as well. At the end of 2025, Devon reported net proved reserves of 2.4 billion barrels of oil equivalent, up from 2.2 billion in 2024. Net production averaged roughly 840,000 barrels of oil equivalent per day in 2025 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

79GF Score

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Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN700.00

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MXN876.95

GF Value

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