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Strategies & Market Trends : Dividend Growth Investing and chit chat.

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From: rnsmth	11/2/2022 6:30:52 PM
	of 2146

DVN dividend cut Devon Energy (NYSE: DVN) -8.3% in Wednesday's trading after the company's Q3 earnings beat is overshadowed by a dividend cut that apparently surprised investors.Devon ( DVN) announced after Tuesday's close it will pay out $1.35/share, down from $1.55/share previously, which still equates to an annualized dividend yield of 7%.Rather than the dividend drop, analysts are pointing to the company's disappointing Q4 guidance, which estimates Q4 capital spending of $845M-$915M, far higher than $768M analyst consensus. More at the link seekingalpha.com

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