National Oilwell Varco Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.46 per share of common stock, payable on September 26, 2014 to each stockholder of record on September 12, 2014. National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, and the [...]
National Oilwell Varco Inc. (NYSE: NOV) today reported that for its second quarter ended June 30, 2014, it earned net income of $619 million, or $1.44 per fully diluted share, compared to first quarter ended March 31, 2014 net income of $589 million, or $1.37 per fully diluted share. The second quarter 2014 fully diluted earnings per share includes: $0.02 per share for income from discontinued operations, ($0.05) per [...]
National Oilwell Varco Inc. (NYSE: NOV) today announced that it has filed a Form 8-K with the Securities and Exchange Commission to present certain historical financial information related to its four new reporting segments. National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, and the provision of oilfield [...]
National Oilwell Varco Inc. (NYSE: NOV) today announced that it has completed the spinoff to its stockholders of its distribution business as an independent public company, NOW Inc. (“NOW”). “This action demonstrates National Oilwell Varco’s commitment to provide long-term value to our stockholders,” said the Company’s Chairman and CEO Clay C. Williams. “With its strong management team in place, NOW is well-positioned [...]
National Oilwell Varco Inc. (NYSE:NOV) announced today that its Vice President, Corporate Controller & Chief Accounting Officer, Robert Blanchard, plans to retire July 31, 2014, and that the company has chosen to name Scott Duff as his successor. Mr. Duff holds a BBA in Accounting from the University of Texas at San Antonio and is a Certified Public Accountant. He held accounting positions at KPMG, Ernst & Young, and [...]
National Oilwell Varco Inc. (NYSE: NOV) today announced that its Board of Directors has approved an increase in the regular quarterly cash dividend to $0.46 per share of common stock from $0.26 per share of common stock, payable on June 27, 2014 to each stockholder of record on June 13, 2014. The Company has a history of annual increases in its quarterly cash dividend since it started paying cash dividends. Clay [...]
National Oilwell Varco Inc. (NYSE: NOV) announced today that the Securities and Exchange Commission has declared effective NOW Inc.’s (“NOW”) registration statement on the Form 10 filed in connection with the spin-off of NOV’s distribution business. NOV also announced that NOW has been authorized to list on the New York Stock Exchange. NOW common stock will trade on the New York Stock Exchange under the symbol DNOW. The [...]
National Oilwell Varco Inc. (NYSE: NOV) will hold a conference call to discuss the results for the second quarter of 2014 on Tuesday, July 29 at 8:00 am (US Central Time). Financial results for the quarter are expected to be released prior to the call that same morning. To access the conference call, listeners should dial 1-800-447-0521 within North America or 1-847-413-3238 outside of North America ten minutes prior to [...]
National Oilwell Varco Inc. (NYSE: NOV) announced today that its board of directors has given final approval for the spin-off of its distribution business. The resulting company will be known as NOW Inc. (“NOW”) and will be headquartered in Houston. The separation will be completed by way of a pro rata distribution of all of the outstanding shares of NOW common stock to holders of NOV common stock. This distribution is [...]
National Oilwell Varco Inc. (NYSE: NOV) today reported that for its first quarter ended March 31, 2014, it earned net income of $589 million, or $1.37 per fully diluted share, compared to fourth quarter ended December 31, 2013 net income of $658 million, or $1.53 per fully diluted share. Excluding pre-tax transaction charges of $19 million, earnings were $602 million, or $1.40 per fully diluted share. Revenues for the [...]
National Oilwell Varco Inc. (NYSE: NOV). National Oilwell Varco announced today that Marcela E. Donadio has been appointed to the National Oilwell Varco Board of Directors effective April 8, 2014. Clay Williams, National Oilwell Varco’s President and Chief Executive Officer, remarked that “I am delighted to welcome Marcela to our board. She brings excellent hands-on auditing and accounting experience from her long [...]
National Oilwell Varco Inc. (NYSE: NOV) announced today that it will reorganize into four financial reporting segments. The new segments will be Rig Systems, Rig Aftermarket, Completion & Production Solutions, and Wellbore Technologies. This reorganization will be effective April 1, 2014. The Company’s Rig Systems group will continue to focus on designing and manufacturing discrete drilling equipment components, as well [...]
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