NOV Inc. supplies technology-driven equipment, components and services for the global oil and gas industry. News about NOV centers on quarterly earnings, bookings, backlog, cash flow and capital returns, along with demand trends affecting its Energy Products and Services and Energy Equipment segments.
Company updates also cover drill pipe and connection technologies such as Grant Prideco and Delta connections, subsea flexible pipe manufacturing, offshore service and repair activity, supply-chain disruptions, dividend actions, and board governance changes.
NOV (NYSE: NOV) has scheduled a conference call for July 26, 2024, at 10 a.m. CT to discuss its second quarter 2024 financial results. The company will release its earnings report after market close on July 25, 2024. Investors and interested parties can access the live webcast through NOV's investor relations website.
NOV (NYSE: NOV) has announced a 50% increase in its regular quarterly cash dividend. The new dividend is $0.075 per share of common stock, payable on June 28, 2024, to stockholders of record on June 14, 2024. This increase aligns with NOV's capital return framework, which aims to return at least 50% of Excess Free Cash Flow to shareholders. Excess Free Cash Flow is defined as cash flow from operations minus capital expenditures and other investments, including acquisitions. The return includes steady quarterly base dividends, opportunistic stock buybacks, and an annual supplemental dividend.
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