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Nordic American Tankers Limited (NYSE:NAT) to Issue Quarterly Dividend of $0.06

Nordic American Tankers logo with Transportation background
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Nordic American Tankers Limited (NYSE:NAT - Get Free Report) announced a quarterly dividend on Friday, February 28th, NASDAQ Dividends reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.06 per share by the shipping company on Monday, March 24th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date of this dividend is Monday, March 10th.

Nordic American Tankers has increased its dividend by an average of 88.2% per year over the last three years. Nordic American Tankers has a payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Nordic American Tankers to earn $0.26 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 61.5%.

Nordic American Tankers Stock Down 2.6 %

NAT traded down $0.07 on Wednesday, reaching $2.47. The company's stock had a trading volume of 2,798,759 shares, compared to its average volume of 2,475,271. The company has a market capitalization of $514.68 million, a price-to-earnings ratio of 8.50 and a beta of -0.31. Nordic American Tankers has a fifty-two week low of $2.41 and a fifty-two week high of $4.40. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $2.66 and a two-hundred day moving average of $3.07.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NAT shares. StockNews.com lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. Jefferies Financial Group reissued a "hold" rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th.

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Read Our Latest Report on Nordic American Tankers

Nordic American Tankers Company Profile

(Get Free Report)

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.

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Dividend History for Nordic American Tankers (NYSE:NAT)

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