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Actionable news in NOV: NATIONAL OILWELL VARCO Inc,

National Oilwell Varco Cuts Its Dividend 89%

Workers, bottom left, walk near National Oilwell Varco oil duct reels at the Acu Port...

National Oilwell Varco Inc. NOV 1.89 % cut its dividend by 89%, as the maker of drilling equipment and provider of oil-field services moves to preserve capital amid a sustained decline in energy prices.

The company also said it expects its first-quarter revenue to decline by about 20%...