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Nov. 18, 2021, 6:43 a.m. EST

NOV reinstates quarterly dividend, last paid in March 2020

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By Tomi Kilgore

NOV Inc. /zigman2/quotes/208758290/composite NOV -0.55% said Thursday it will reinstate its quarterly dividend of 5 cents a share, payable on Dec. 17 to shareholders of record on Dec. 3. The provider of equipment to the oil and gas industry last paid a dividend in March 2020. "Reinstating a regular quarterly dividend demonstrates our continued commitment to returning excess capital to our shareholders along with our growing confidence in the emerging recovery of our business," said Chief Executive Clay Williams. Based on the stock's Wednesday closing price of $12.82, the annual dividend rate implies a dividend yield of 1.56%, compared with the yield for the SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE -0.73% of 3.78% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.97% of 1.31%.

/zigman2/quotes/208758290/composite
US : U.S.: NYSE
$ 16.21
-0.09 -0.55%
Volume: 2.95M
Jan. 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
1.23%
Market Cap
$6.37 billion
Rev. per Employee
$192,610
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/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 64.30
-0.47 -0.73%
Volume: 32.99M
Jan. 19, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,532.76
-44.35 -0.97%
Volume: 2.48B
Jan. 19, 2022 4:58p
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