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

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Wednesday, May 27th. Shareholders of record on Wednesday, June 10th will be given a dividend of 0.22 per share by the shipping company on Wednesday, June 24th. This represents a c) dividend on an annualized basis and a yield of 17.5%. The ex-dividend date of this dividend 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 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 $0.38 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 178.9%.

Nordic American Tankers Price Performance

NAT opened at $5.04 on Friday. The company has a 50-day moving average of $5.68 and a 200-day moving average of $4.69. The company has a market capitalization of $1.07 billion, a P/E ratio of 71.94 and a beta of -0.54. Nordic American Tankers has a 1-year low of $2.55 and a 1-year high of $6.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.94 and a current ratio of 2.24.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Friday, February 27th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $58.76 million for the quarter, compared to the consensus estimate of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. Equities analysts expect that Nordic American Tankers will post 0.43 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.