NOV Inc.

National Oilwell Varco Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.26 per share of common stock, payable on March 28, 2014 to each stockholder of record on March 14, 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, the provision of [...]

National Oilwell Varco Inc. (NYSE: NOV) announced today that Clay C. Williams has been appointed President and Chief Executive Officer of the Company effective immediately. The Company has previously announced that Merrill A. “Pete” Miller, Jr. would step down as Chairman and Chief Executive Officer contemporaneous with the completion of its announced plan to spin off its Distribution Business to its shareholders as an [...]

National Oilwell Varco Inc. (NYSE: NOV) today reported that for the fourth quarter ended December 31, 2013 it earned net income of $658 million, or $1.53 per fully diluted share. Earnings improved three percent compared to the third quarter of 2013, and were down two percent compared to the fourth quarter of 2012. Excluding $16 million in pre-tax transaction charges, net income was $670 million, or $1.56 per fully diluted [...]

National Oilwell Varco Inc. (NYSE: NOV) announced the name of an additional member of the Executive Management team for its previously announced plan to spin off to its shareholders its Distribution Business as an independent publicly traded company. On the effective date of the spinoff, Mr. Raymond Chang will become the Vice President, General Counsel and Secretary of the publicly traded distribution company. Mr. Chang [...]

National Oilwell Varco Inc. (NYSE: NOV) announced that it has formed a new Delaware corporation, NOW Inc., to eventually serve as the independent, publicly traded company for its previously announced proposed plan to spin off to its shareholders its Distribution Business. The proposed publicly traded distribution business intends to operate under the name DistributionNOW. The Company also announced the names of certain [...]

National Oilwell Varco Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.26 per share of common stock, payable on December 20, 2013 to each stockholder of record on December 6, 2013. 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, the provision [...]

National Oilwell Varco Inc. (NYSE: NOV) announced today that Chairman and Chief Executive Officer Merrill A. “Pete” Miller, Jr. has informed the Board of Directors that he intends to step down from those positions contemporaneous with the completion of the previously announced plan to spin off to its shareholders its Distribution Business as an independent, publicly traded company. Mr. Miller will become the Executive [...]

National Oilwell Varco Inc. (NYSE: NOV) has scheduled a conference call to discuss fourth quarter and 2013 earnings for Friday, January 31, 2014 at 8:00 a.m. Central Time. Financial results for the fourth quarter and full year ending on December 31, 2013 are expected to be released that morning before the market opens. The call will be broadcast through the Investor Relations link on National Oilwell Varco’s web site at [...]

National Oilwell Varco Inc. (NYSE: NOV) today reported that for the third quarter ended September 30, 2013 it earned net income of $636 million, or $1.49 per fully diluted share, compared to second quarter ended June 30, 2013 net income of $531 million, or $1.24 per fully diluted share. Excluding $10 million in pre-tax transaction charges and $102 million in pre-tax gains resulting from the settlement of an outstanding [...]

National Oilwell Varco Inc. (NYSE: NOV) announced today that its Board of Directors has authorized Company management to move forward with exploration of a plan to spin-off NOV’s distribution business from the remainder of the Company, creating two stand-alone, publicly traded corporations. The Company believes that the separation of the distribution business can be accomplished via a tax-efficient spin-off to NOV [...]