Nordic American Tankers Limited (NAT) to Issue Quarterly Dividend of $0.06 on March 24th

Nordic American Tankers Limited (NYSE:NAT) announced a quarterly dividend on Friday, February 28th, NASDAQ Dividends reports. Shareholders 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 annualized dividend and a yield of 9.54%. The ex-dividend date is Monday, March 10th.

Nordic American Tankers has raised its dividend by an average of 88.2% per year over the last three years. Nordic American Tankers has a dividend payout ratio of 60.0% meaning its dividend is sufficiently covered by earnings. 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 $0.24 annual dividend with an expected future payout ratio of 92.3%.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $2.52 on Friday. The stock’s 50-day moving average is $2.66 and its two-hundred day moving average is $3.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers has a 1-year low of $2.41 and a 1-year high of $4.40. The company has a market cap of $525.12 million, a price-to-earnings ratio of 8.67 and a beta of -0.33.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The company had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. Analysts forecast that Nordic American Tankers will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NAT shares. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday.

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.