Nordic American Tankers Limited (NYSE:NAT) Announces Quarterly Dividend of $0.17

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Thursday, February 26th. Investors of record on Tuesday, March 10th will be paid a dividend of 0.17 per share by the shipping company on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a 30.8% increase from Nordic American Tankers’s previous quarterly dividend of $0.13.

Nordic American Tankers has increased its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Nordic American Tankers has a payout ratio of 148.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Nordic American Tankers to earn $0.26 per share next year, which means the company may not be able to cover its $0.52 annual dividend with an expected future payout ratio of 200.0%.

Nordic American Tankers Stock Up 7.3%

Shares of NYSE NAT traded up $0.37 during trading hours on Thursday, hitting $5.41. 14,379,114 shares of the stock were exchanged, compared to its average volume of 2,842,211. Nordic American Tankers has a 12 month low of $2.13 and a 12 month high of $5.43. The firm has a fifty day moving average price of $4.05 and a 200-day moving average price of $3.61. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.15 billion, a PE ratio of 270.64 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Wednesday, March 4th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. On average, sell-side analysts expect that Nordic American Tankers will post 0.24 EPS for the current year.

About Nordic American Tankers

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.