Nordic American Tankers Limited (NYSE:NAT) Raises Dividend to $0.17 Per Share

Nordic American Tankers Limited (NYSE:NAT) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Tuesday, March 10th will be given 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 dividend yield of 12.1%. The ex-dividend date 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 decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Nordic American Tankers has a dividend payout ratio of 194.3% 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 $0.68 annual dividend with an expected future payout ratio of 261.5%.

Nordic American Tankers Stock Up 0.8%

NYSE NAT opened at $5.63 on Friday. Nordic American Tankers has a 1 year low of $2.13 and a 1 year high of $6.34. The stock has a market capitalization of $1.19 billion, a PE ratio of 80.37 and a beta of -0.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.24 and a quick ratio of 1.64. The business’s 50-day moving average is $4.37 and its 200 day moving average is $3.75.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a net margin of 6.39% and a return on equity of 2.47%. The business had revenue of $58.76 million for the quarter, compared to the consensus estimate of $69.43 million. Sell-side analysts forecast that Nordic American Tankers will post 0.24 earnings per share 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.