This Oil Stock Is Turning Into an Amazing Passive Income Machine

Devon Energy (NYSE: DVN) launched a unique dividend framework last year. The oil company initiated an industry-first fixed-plus-variable dividend policy. It complements its base quarterly dividend with variable payments of up to 50% of its excess cash flow each quarter.

As a result, Devon Energy is becoming a massive passive income producer with its free cash flow surging thanks to higher oil prices. The company recently increased its dividend once again, hitting a new record high. Given the current situation in the oil market, Devon could continue paying big dividends in the coming quarters.

Image source: Getty Images.

Continue reading

Source Fool.com