Devon Energy Declares Increased Cash Dividend for Common Stockholders

Devon Energy Corporation (NYSE:DVN) today announced that its board of
directors has approved a 10 percent increase to its quarterly cash
dividend on the company′s common stock from $0.20 per share to $0.22 per
share. The increase is effective with the dividend payable on June 28,
2013 to shareholders of record as of the close of business on June 14,
2013.

'This is Devon′s eighth dividend increase since 2004, representing an
annual compound growth rate of 24 percent,? said Jeff Agosta, chief
financial officer. 'Our dividend increase highlights Devon′s long-term
commitment to returning cash to our shareholders and ultimately reflects
the confidence we have in our underlying business.?

Devon Energy Corporation is an Oklahoma City-based independent energy
company engaged in oil and gas exploration and production. Devon is a
leading U.S.-based independent oil and gas producer and is included in
the S&P 500 Index. For additional information, visit www.devonenergy.com.

Devon Energy Corporation

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