Nordic American Tankers Limited (NYSE:NAT) to Issue Quarterly Dividend of $0.10

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Thursday, August 28th. Investors of record on Friday, September 12th will be given a dividend of 0.10 per share by the shipping company on Monday, September 29th. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend is Friday, September 12th. This is a 42.9% increase from Nordic American Tankers’s previous quarterly dividend of $0.07.

Nordic American Tankers has a dividend payout ratio of 68.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Nordic American Tankers to earn $0.26 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 92.3%.

Nordic American Tankers Trading Down 1.5%

NAT opened at $3.20 on Wednesday. The firm has a market cap of $677.60 million, a P/E ratio of 45.71 and a beta of -0.22. Nordic American Tankers has a 12 month low of $2.13 and a 12 month high of $3.83. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average of $2.87 and a 200 day moving average of $2.68.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The company had revenue of $40.15 million during the quarter, compared to analysts’ expectations of $53.35 million. Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%. As a group, research analysts forecast that Nordic American Tankers will post 0.24 EPS for the current year.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.