NOV Reinstates Regular Quarterly Dividend

Rhea-AI Summary

NOV Inc. (NYSE: NOV) has reinstated its regular quarterly cash dividend of $0.05 per share, reflecting the company's commitment to returning capital to shareholders and confidence in its business recovery. The dividend is payable on December 17, 2021, to stockholders of record as of December 3, 2021.

This decision highlights NOV's focus on financial stability and growth in the energy sector, leveraging over 150 years of experience to drive innovations that support sustainable energy production.

Positive

• Reinstatement of a quarterly dividend of $0.05 per share signals strong business recovery.
• Demonstrates company's commitment to returning excess capital to shareholders.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- NOV Inc. (NYSE: NOV) today announced that its Board of Directors has reinstated its regular quarterly cash dividend of $0.05 per share of common stock.

“Reinstating a regular quarterly dividend demonstrates our continued commitment to returning excess capital to our shareholders along with our growing confidence in the emerging recovery of our business,” stated Clay Williams, Chairman, President and CEO.

NOV’s Board of Directors approved a quarterly cash dividend of $0.05 per share of outstanding common stock, payable on December 17, 2021 to each stockholder of record on December 3, 2021.

About NOV

NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005417/en/

Blake McCarthy

Vice President, Corporate Development and Investor Relations

(713) 815-3535

Blake.McCarthy@nov.com

Source: NOV Inc.

FAQ

What is the dividend amount announced by NOV?

NOV has announced a quarterly cash dividend of $0.05 per share.

When will the NOV dividend be paid?

The dividend will be payable on December 17, 2021.

Who will receive the NOV dividend?

Stockholders of record on December 3, 2021, will receive the dividend.

How frequently does NOV pay dividends?

NOV reinstated its regular quarterly dividend.

What does the dividend reinstatement indicate for NOV?

It indicates the company's growing confidence in its business recovery.