Nordic American Tankers Limited (NAT) To Go Ex-Dividend on September 10th

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Wednesday, August 26th. Stockholders of record on Thursday, September 10th will be given 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 dividend 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 annually for the last 1 consecutive years. Nordic American Tankers has a dividend 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. Equities research 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 Price Performance

Shares of Nordic American Tankers stock opened at $6.75 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of 24.99 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. Nordic American Tankers has a 12 month low of $2.96 and a 12 month high of $7.20. The business’s 50-day moving average price is $6.33 and its 200-day moving average price is $5.76.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. Sell-side 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.