Nordic American Tankers Limited (NYSE:NAT) Declares Monthly Dividend of $0.04

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) declared a monthly dividend on Friday, November 29th,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.04 per share by the shipping company on Thursday, January 16th. This represents a $0.48 annualized dividend and a yield of 18.18%. The ex-dividend date is Tuesday, December 17th.

Nordic American Tankers has raised its dividend by an average of 2.9% annually over the last three years. Nordic American Tankers has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nordic American Tankers to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

Nordic American Tankers Trading Up 1.1 %

Shares of NYSE NAT traded up $0.03 during trading hours on Friday, hitting $2.64. 2,248,065 shares of the company traded hands, compared to its average volume of 2,541,458. The stock has a market capitalization of $551.23 million, a price-to-earnings ratio of 9.10 and a beta of -0.26. The company's 50 day moving average price is $3.14 and its 200 day moving average price is $3.55. Nordic American Tankers has a 12 month low of $2.56 and a 12 month high of $4.64. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a "hold" rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th. StockNews.com raised shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Finally, Evercore ISI dropped their target price on Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating for the company in a research report on Friday, August 30th.

About Nordic American Tankers

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.