Nordic American Tanker Ltd (NYSE:NAT) announced a quarterly dividend on Thursday, November 1st, NASDAQ reports. Stockholders of record on Wednesday, November 21st will be given a dividend of 0.10 per share by the shipping company on Friday, December 7th. This represents a $0.40 annualized dividend and a dividend yield of 13.89%. The ex-dividend date is Tuesday, November 20th. This is an increase from Nordic American Tanker’s previous quarterly dividend of $0.02.

Nordic American Tanker has decreased its dividend payment by an average of 10.5% per year over the last three years. Nordic American Tanker has a payout ratio of -8.7% meaning 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 Tanker to earn ($0.04) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -100.0%.

NAT opened at $2.88 on Monday. Nordic American Tanker has a twelve month low of $1.82 and a twelve month high of $4.24. The company has a quick ratio of 2.53, a current ratio of 2.91 and a debt-to-equity ratio of 0.53. The firm has a market cap of $408.87 million, a PE ratio of -4.06 and a beta of -0.12.

A hedge fund recently raised its stake in Nordic American Tanker stock. Bank of New York Mellon Corp boosted its stake in Nordic American Tanker Ltd (NYSE:NAT) by 11.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 419,897 shares of the shipping company’s stock after purchasing an additional 43,480 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of Nordic American Tanker worth $1,125,000 as of its most recent SEC filing. 24.09% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on NAT shares. Zacks Investment Research cut shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. BTIG Research started coverage on shares of Nordic American Tanker in a research report on Thursday, September 27th. They set a “neutral” rating for the company. ValuEngine cut shares of Nordic American Tanker from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Maxim Group reiterated a “sell” rating and set a $1.00 price objective on shares of Nordic American Tanker in a research report on Tuesday, August 14th. Finally, B. Riley started coverage on shares of Nordic American Tanker in a research report on Friday, November 9th. They set a “buy” rating and a $4.25 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $2.68.

COPYRIGHT VIOLATION WARNING: “Nordic American Tanker Ltd (NAT) to Issue Quarterly Dividend of $0.10 on December 7th” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.dailypolitical.com/2018/11/19/nordic-american-tanker-ltd-nat-to-issue-quarterly-dividend-of-0-10-on-december-7th.html.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

See Also: Initial Public Offering (IPO)

Dividend History for Nordic American Tanker (NYSE:NAT)

Receive News & Ratings for Nordic American Tanker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tanker and related companies with MarketBeat.com's FREE daily email newsletter.