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

Nordic American Tankers Limited (NYSE:NAT) declared 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 annualized dividend and a dividend yield of 9.78%. 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 payout ratio of 32.7% indicating that 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 0.2 %

Shares of NYSE NAT opened at $2.46 on Friday. The firm has a market capitalization of $512.59 million, a PE ratio of 8.47 and a beta of -0.31. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 1 year low of $2.41 and a 1 year high of $4.40. The firm’s 50-day moving average is $2.66 and its 200-day moving average is $3.09.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Friday, November 29th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Equities analysts expect that Nordic American Tankers will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research report on Friday.

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.