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NOV (NOV) has provided an announcement.
The Company has announced a capital return plan to distribute at least 50% of its excess free cash flow annually, with increased dividends, share repurchases, and potential supplemental dividends based on performance. The quarterly dividend will rise by 50% to $0.075 per share, starting in the second quarter of 2024, subject to board approval. Additionally, a $1 billion share repurchase program over 36 months has been authorized, with purchases dependent on various market and corporate conditions. These forward-looking statements are predictions that may change due to numerous factors and uncertainties.
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