NOV Inc. sees using cash to fund ‘meaningful growth’ in business

NOV said on its Q4 earnings conference call that it is committed to returning excess capital to shareholders, wh ether it’s through increasing the dividend or a share repurchase program. At the same time, NOV sees the anticipated near-term uses of cash to fund "meaningful growth" in its businesses, along with an M&A environment "that is looking a bit more constructive," means it is not ready to increase return of capital to shareholders at this time.