NOV Inc. Declares Special Dividend of $0.09 (NYSE:NOV)

NOV Inc. (NYSE:NOV) declared a special dividend on Wednesday, May 20th. Investors of record on Monday, June 1st will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, June 12th. This represents a dividend yield of 173.0%. The ex-dividend date of this dividend is Monday, June 1st.

NOV has increased its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. NOV has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect NOV to earn $1.30 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 27.7%.

NOV Stock Down 1.7%

Shares of NOV stock traded down $0.34 during trading on Friday, reaching $19.92. The company had a trading volume of 4,138,426 shares, compared to its average volume of 3,946,615. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. NOV has a fifty-two week low of $11.65 and a fifty-two week high of $21.38. The firm’s fifty day moving average is $19.82 and its 200-day moving average is $18.25. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 83.00 and a beta of 0.92.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts anticipate that NOV will post 0.91 EPS for the current year.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.