A nozzle assembly for use with a device for dispensing a flowable material, such as caulking material, is disclosed. The nozzle assembly includes a conduit having an inlet end adapted for connecting to the dispensing device, an outlet end, and a longitudinally extending passage therethrough. A head assembly is arranged to be rotatably mounted to the conduit outlet end. A nozzle is arranged to be affixed within the head assembly, the nozzle comprising a larger diameter inlet opening, a smaller diameter outlet opening, and a tapered wall comprising a notched portion which, together with the outlet opening forms a dispensing opening. The nozzle is arranged to rotate in response to rotation of the head assembly to any one of a plurality of positions for directing a bead of flowable material onto a surface.