Nordic American Tanker Ltd (NAT) to Issue $0.03 Quarterly Dividend

Nordic American Tanker Ltd (NYSE:NAT) declared a quarterly dividend on Friday, January 26th, Zacks reports. Shareholders of record on Wednesday, February 21st will be paid a dividend of 0.03 per share by the shipping company on Friday, March 9th. This represents a $0.12 annualized dividend and a yield of 5.48%. The ex-dividend date is Tuesday, February 20th.

Nordic American Tanker has decreased its dividend payment by an average of 10.5% per year over the last three years. Nordic American Tanker has a payout ratio of -19.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Nordic American Tanker to earn $0.01 per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of 1,200.0%.

Nordic American Tanker (NYSE NAT) opened at $2.19 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. Nordic American Tanker has a 1-year low of $1.82 and a 1-year high of $8.68. The company has a market cap of $305.19, a price-to-earnings ratio of -2.42 and a beta of 0.81.

Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Monday, February 12th. The shipping company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative return on equity of 17.48% and a negative net margin of 26.31%. The company had revenue of $36.72 million during the quarter, compared to the consensus estimate of $45.46 million. sell-side analysts predict that Nordic American Tanker will post -0.36 earnings per share for the current fiscal year.

Several research analysts have commented on NAT shares. ValuEngine lowered shares of Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Jefferies Group upgraded shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price objective for the company in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Morgan Stanley decreased their price objective on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Finally, Maxim Group decreased their price objective on shares of Nordic American Tanker from $3.00 to $2.00 and set a “sell” rating for the company in a report on Thursday, December 14th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $3.36.

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About Nordic American Tanker

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Dividend History for Nordic American Tanker (NYSE:NAT)

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