Nordic American Tankers Limited (NAT) to Issue Quarterly Dividend of $0.22 on June 24th

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Wednesday, May 27th. Stockholders of record on Wednesday, June 10th will be paid a dividend of 0.22 per share by the shipping company on Wednesday, June 24th. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date is Wednesday, June 10th. This is a 29.4% increase from Nordic American Tankers’s previous quarterly dividend of $0.17.

Nordic American Tankers has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Nordic American Tankers has a dividend payout ratio of 251.4% 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 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 Stock Down 0.1%

NAT opened at $5.39 on Monday. Nordic American Tankers has a 1 year low of $2.60 and a 1 year high of $6.34. The firm has a 50 day moving average price of $5.65 and a 200 day moving average price of $4.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00. The company has a market cap of $1.14 billion, a PE ratio of 19.94 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. The firm had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. Sell-side analysts expect that Nordic American Tankers will post 0.58 earnings per share for the current 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.