Nordic American Tankers Limited (NYSE:NAT) to Issue Quarterly Dividend of $0.13

Nordic American Tankers Limited (NYSE:NAT) announced a quarterly dividend on Friday, November 28th. Investors of record on Monday, December 8th will be given a dividend of 0.13 per share by the shipping company on Monday, December 22nd. This represents a c) annualized dividend and a yield of 14.3%. The ex-dividend date of this dividend is Monday, December 8th. This is a 30.0% increase from Nordic American Tankers’s previous quarterly dividend of $0.10.

Nordic American Tankers has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend every year for the last 1 years. Nordic American Tankers has a payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Nordic American Tankers to earn $0.26 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 153.8%.

Nordic American Tankers Stock Down 3.5%

NAT stock traded down $0.13 during trading on Friday, reaching $3.63. The stock had a trading volume of 3,042,914 shares, compared to its average volume of 2,572,340. The company has a current ratio of 2.33, a quick ratio of 2.04 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average price of $3.50 and a 200 day moving average price of $3.07. The company has a market capitalization of $768.66 million, a P/E ratio of 51.86 and a beta of -0.36. Nordic American Tankers has a 1-year low of $2.13 and a 1-year high of $3.93.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a net margin of 7.58% and a return on equity of 2.67%. The business had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. On average, equities analysts anticipate that Nordic American Tankers will post 0.24 earnings per share for the current year.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.