National Oilwell Varco Dividend Provides 5.9% Yield

National Oilwell Varco, Inc. NOV disclosed that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of its common stock. The dividend provided 5.9 percent yield, which is more than double that of the five-year average dividend yield of 2.50 percent.

Similarly, the dividend payout ratio also more than doubled to 56 percent compared to the five year average payout ratio of 24 percent. It has been boosting its dividend rate in the last five years. As a result, it recorded 40.63 percent growth while three-year dividend growth was a whopping 61.64 percent.

National Oilwell said the dividend would be payable on June 24, 2016 to each stockholder. For determining the shareholders, the company fixed the record date of June 10.

On Thursday, the stock traded 0.41 percent.