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Press release from Business Wire

National Oilwell Varco Announces 10 Percent Increase in Regular Quarterly Dividend

Thursday, November 18, 2010

National Oilwell Varco Announces 10 Percent Increase in Regular Quarterly Dividend12:22 EST Thursday, November 18, 2010 HOUSTON (Business Wire) -- National Oilwell Varco, Inc. (NYSE: NOV) today announced that its Board of Directors has approved a 10 percent increase in the regular quarterly cash dividend to $0.11 per share of common stock, payable on December 17, 2010 to each stockholder of record on December 3, 2010. Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, "This dividend increase reflects the Company's strong financial condition and our confidence in our business going forward." National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry. National Oilwell Varco, Inc.Clay Williams, 713-346-7606