NOV Inc. (NYSE:NOV) to Issue $0.09 Special Dividend

NOV Inc. (NYSE:NOV) declared a special dividend on Thursday, May 21st. Stockholders of record on Friday, June 12th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, June 26th. This represents a dividend yield of 173.0%. The ex-dividend date of this dividend is Friday, June 12th.

NOV has increased its dividend by an average of 0.6%per year over the last three years and has increased its dividend every year for the last 1 years. NOV has a dividend payout ratio of 26.7% indicating that 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 1.5%

Shares of NYSE NOV opened at $20.83 on Friday. NOV has a 1 year low of $11.65 and a 1 year high of $21.38. The stock has a market capitalization of $7.48 billion, a P/E ratio of 86.79 and a beta of 0.92. The company has a 50-day moving average price of $19.59 and a 200-day moving average price of $18.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66.

NOV (NYSE:NOV) last released its quarterly earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts forecast that NOV will post 0.91 EPS for the current fiscal 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.