National Oilwell Varco Suspends Dividend as Capital Becomes Scarce

Oilfield services and equipment provider National Oilwell Varco said Wednesday that its Board of Directors elected to suspend the quarterly dividend until further notice.

Clay Williams, Chairman, President, and CEO said: “With the view that capital is becoming increasingly scarce and valuable within our industry, we believe that it is in the best long-term interest of NOV’s shareholders to suspend our dividend,”

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