National-Oilwell, Inc. (NOV) Raises Quarterly Dividend 76.9% to $0.46; 2.3% Yield

National-Oilwell, Inc. (NYSE: NOV) declared a quarterly dividend of $0.46 per share, or $1.84 annualized. This is a 76.9% increase from the prior dividend of $0.26.

The dividend will be payable on June 27, 2014, to stockholders of record on June 13, 2014, with an ex-dividend date of June 11, 2014.

The annual yield on the dividend is 2.3 percent.

Clay Williams, Chief Executive Officer and President of National Oilwell Varco, remarked, "This dividend increase demonstrates the Company's strong financial condition and the confidence we have in our future. The Company’s strength in execution has resulted in a very strong cash flow that has enabled us to pass this dividend increase of over 75% directly to our shareholders. Even with this increase, our business model generates sufficient operating cash flow to allow future investment in strategic internal growth and acquisitions that will further strengthen our existing businesses."

For a dividend history and other dividend-related data on National-Oilwell, Inc. (NOV) click here.

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