National Oilwell Varco Increases Quarterly Dividend

National Oilwell Varco 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."