Tomahawk, WI 06/03/2014 (Basicsmedia) – National-Oilwell Varco, Inc. (NYSE:NOV) has evolved as an investor’s dream venture in FY 2014, apparently! On February 27, 2014, NOV had announced cash dividends of $0.26 per share; however, a lot has changed for the better since, and in May, NOV announced an emphatic rise in dividend b 77% – rising from 26 cents to 46 cents for every share (annual dividend: $1.84 per share).

The Historic Spin Off!

This unprecedented rise clearly projects that the company is brimming with confidence and protracts that its cash flow has multiplied many folds ever since a remarkable spin-off with Oil States International Inc. (NYSE:OIS) was on their cards! National-Oilwell Varco, Inc. (NYSE:NOV)   has been a consistent performer, and it has often crossed the 80.00 mark during trading hours over the 5 years. The latest news of the completion of a spin off between the 9th largest public organization, Houston based NOV, and the 31st largest, OIS, created craze amongst the trader fraternities.

NOV Sells-out 23,990 Shares

To add to the frenzy and depict NOV’s sheer confidence in its capabilities and endeavors, Director of NOV, Ben A. Guill chose to sell out 23,990 shares in a humongous transaction of $1,979,415.90 (each share priced at $82.51), on May 23. Currently, the director owns 68,368 common shares, evaluating holistically to $5,641,044!

DNOW’s Gains Equals NOV’s Loss In Trading Activities

The consequence of the spin-off gave birth to the Houston, TX based DistributionNow (NYSE:DNOW), with a market cap of 3.80 billion! DNOW has already obtained the momentum from NOV’s prospective trading, and witnessed a surge of 9.74% in its first day’s trade as NOV’s stocks plunged by 9.38%, concomitantly during June 2, 2014.

A Portfolio Rejig

After the spin-off, National-Oilwell Varco, Inc. (NYSE:NOV)  enforced a meager rejig, as Pete Miller, who was the Executive Chairman at NOV, became the Executive Chairman o DNOW and NOV’s President and CEO, Clay Williams now represents DNOW, with the same portfolio! To ensure prospective trading, each NOV shareholder received one DNOW share, for every 4 NOV shares, on May 22!

Robert Balchard To Retire On July 31

Meanwhile, Robert Balchard announced about his intentions to retire from his role of the Vice President, Chief Accounting Officer and Corporate Controller, on July 31, 2014. The board of directors has appointed Scott Duff, a Certified Public Accountant, as his successor!

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