Nordic American Tankers Limited (NYSE:NAT) Announces Quarterly Dividend of $0.27

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Thursday, August 27th. Investors of record on Thursday, September 10th will be paid a dividend of 0.27 per share by the shipping company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a yield of 16.0%. The ex-dividend date is Thursday, September 10th. This is a 22.7% increase from Nordic American Tankers’s previous quarterly dividend of $0.22.

Nordic American Tankers has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Nordic American Tankers has a payout ratio of 251.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Nordic American Tankers to earn $0.33 per share next year, which means the company may not be able to cover its $0.88 annual dividend with an expected future payout ratio of 266.7%.

Nordic American Tankers Trading Up 3.5%

NYSE:NAT opened at $6.75 on Friday. Nordic American Tankers has a one year low of $2.96 and a one year high of $7.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 2.75. The company’s 50-day simple moving average is $6.33 and its 200 day simple moving average is $5.76. The firm has a market capitalization of $1.43 billion, a P/E ratio of 24.99 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The business had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. As a group, analysts forecast that Nordic American Tankers will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.