March 7 (Reuters) - U.S. oil and gas producer Devon Energy Corp on Wednesday boosted its dividend payout and said it would sell a shale asset to raise cash and reduce debt.
Devon hiked its dividend to 8 cents per share from 6 cents.
It plans to sell the southern portion of its Barnett Shale position for $553 million.
The company also said it would buy back $1 billion in shares. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)