Nordic American Tankers Limited (NYSE:NAT) to Issue $0.04 Monthly Dividend

Nordic American Tankers Limited (NYSE:NAT) declared a monthly dividend on Friday, November 29th,NASDAQ Dividends reports. Investors 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 dividend on an annualized basis and a yield of 18.18%. The ex-dividend date of this dividend is Tuesday, December 17th.

Nordic American Tankers has raised its dividend payment 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 opened at $2.64 on Friday. The stock has a market capitalization of $551.23 million, a PE ratio of 9.10 and a beta of -0.26. The company’s 50-day moving average price is $3.14 and its two-hundred day moving average price is $3.55. 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 one year low of $2.56 and a one year high of $4.64.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NAT. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 29th. Finally, Evercore ISI decreased their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note 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.