Key Developments: National Oilwell Varco Inc (NOV)

NOV on New York Consolidated

70.76USD
30 Oct 2014
Price Change (% chg)

$-1.97 (-2.71%)
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Latest Key Developments (Source: Significant Developments)

National Oilwell Varco announces $3 bln share repurchase plan
Tuesday, 30 Sep 2014 01:55pm EDT 

National Oilwell Varco Inc:Authorized share repurchase program to purchase up to $3 billion of the company's outstanding common stock.Says it will fund the repurchases using U.S. cash; however, depending on U.S. cash balances, the Company could borrow from time-to-time to finance the transactions.  Full Article

National Oilwell Varco Inc declares quarterly cash dividend
Thursday, 14 Aug 2014 07:00am EDT 

National Oilwell Varco Inc:Declares regular quarterly cash dividend of $0.46 per share of common stock, payable on Sept. 26 to each stockholder of record on Sept. 12.  Full Article

National Oilwell Varco Inc announces completion of spinoff of NOW Inc; Resignation of Merrill A. Miller and Election of Clay C. Williams
Friday, 30 May 2014 05:00pm EDT 

National Oilwell Varco Inc:Completes the spinoff to its stockholders of its distribution business as an independent public company, NOW Inc.Announced that Merrill A. Miller has stepped down as the company's Executive Chairman in order to become the Executive Chairman of NOW Inc.Clay C. Williams has been appointed Chairman of the Company's Board of Directors effective immediately.  Full Article

National Oilwell Varco announces increase in regular quarterly dividend
Thursday, 15 May 2014 10:14am EDT 

National Oilwell Varco Inc:Approved an increase in the regular quarterly cash dividend to $0.46 per share from $0.26 per share.Payable on June 27, to each stockholder of record on June 13.  Full Article

National Oilwell Varco board of directors approves Spin-Off of NOW Inc
Thursday, 1 May 2014 04:50pm EDT 

National Oilwell Varco Inc:Says that its board of directors has given final approval for the spin-off of its distribution business.Resulting company will be known as NOW Inc and will be headquartered in Houston.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.Distribution is expected to occur after market close on May 30 to NOV stockholders of record as of the close of business on May 22.  Full Article

National Oilwell Varco Inc announces reporting segment changes
Wednesday, 12 Mar 2014 07:00am EDT 

National Oilwell Varco Inc:Says 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.Rig Systems group will continue to focus on designing and manufacturing discrete drilling equipment components, as well as building complete integrated drilling equipment packages for both land and offshore applications.Rig Aftermarket group will consist of the consumables, spares and service required to maintain the equipment components and packages for the useful lives of the assets.Completion & Production Solutions group will focus on improving wellbore completions, and oil and gas production technologies.Wellbore Technologies business group will direct its attention to enhancing drilling performance at the rig, both land and offshore, through downhole tools, bits,drill pipe, waste management services, solids control, drilling fluids, instrumentation, tubular inspection and tubular coating services.  Full Article

National Oilwell Varco Inc declares regular quarterly dividend
Thursday, 27 Feb 2014 09:00am EST 

National Oilwell Varco Inc:Declared regular quarterly cash dividend of $0.26 per share.Payable on March 28 to each stockholder of record on March 14.  Full Article

National Oilwell Varco Inc announces election of Clay Williams as president & chief executive officer
Thursday, 27 Feb 2014 07:00am EST 

National Oilwell Varco Inc:Announced that Clay C. Williams has been appointed President and Chief Executive Officer of the company effective immediately.  Full Article

National Oilwell Varco Inc gives Q1 2014 revenue outlook; FY 2014 revenue outlook slightly above analysts' estimates - Conference Call
Friday, 31 Jan 2014 09:00am EST 

National Oilwell Varco Inc:Expects Q1 2014 revenue to decline in mid single-digit percentage sequential with fairly high decremental margins.Expects FY 2014 revenue in mid single-digit percentage growth over FY 2013 with strong year-over-year flow through.The company reported revenue of $6.172 bln in Q4 2013.The company reported revenue of $22.767 bln in FY 2013.Q1 2014 revenue of $5.856 bln - Thomson Reuters I/B/E/S.FY 2014 revenue of $23.595 bln - Thomson Reuters I/B/E/S.  Full Article

National Oilwell Varco Inc Announces Management Change - Form 8-K
Thursday, 14 Nov 2013 02:50pm EST 

National Oilwell Varco Inc reported in its Form 8-K that on November 14, 2013, National Oilwell Varco, Inc. (Company) issued a press release announcing the intention of Merrill A. Miller, Jr. to step down as the Company’s Chairman and Chief Executive Officer (CEO) 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 Chairman of that publicly traded distribution company on the effective date of the spinoff. As of November 13, 2013, Clay C. Williams, was appointed to the Board of Directors of the Company. The Company’s Board of Directors plans for Mr. Williams to succeed Mr. Miller as the Company’s Chairman and Chief Executive Officer (CEO).  Full Article

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