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Stockholders' Equity
 6 Months Ended
Jun. 30, 2018
Stockholders Equity Note [Abstract]  
Stockholders' Equity

18.

Stockholders’ Equity

Share Repurchase Program

In March 2018, Devon announced a share repurchase program to buy up to $1 billion of shares of common stock. In June 2018, in conjunction with the divestiture of its investment in EnLink and the General Partner, Devon announced the expansion of the share repurchase by an additional $3 billion, bringing the total repurchase program to $4 billion. The share repurchase program expires December 31, 2019. During the first six months of 2018, Devon repurchased 13.7 million shares of common stock for $521 million, or $38.01 per share, under this program.

Dividends

The table below summarizes the dividends Devon paid on its common stock.

 

 

Amounts

 

 

Rate Per Share

 

Quarter Ended 2018:

 

 

 

 

 

 

 

First quarter 2018

$

32

 

 

$

0.06

 

Second quarter 2018

 

42

 

 

$

0.08

 

Total year-to-date

$

74

 

 

 

 

 

Quarter Ended 2017:

 

 

 

 

 

 

 

First quarter 2017

$

32

 

 

$

0.06

 

Second quarter 2017

 

33

 

 

$

0.06

 

Total year-to-date

$

65

 

 

 

 

 

Devon increased the quarterly dividend by 33% to $0.08 per share in the second quarter of 2018.