This Oil Stock Is Giving Its Investors Something Special
Devon Energy (NYSE: DVN) has taken several steps to streamline its operations and shore up its balance sheet in recent years. Those moves paid big dividends during the second quarter, as they gave the oil company the flexibility to ride out the storm without having to make too many drastic changes. For example, it's one of the few oil companies that hasn't slashed its dividend this year.
Instead, Devon is operating from such a position of strength that it plans to pay its investors a special cash dividend following the closing of an upcoming asset sale. That payment is part of the next phase of the company's strategic plan to further enhance its resilience against future volatility in the oil market.
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Source Fool.com
