Nordic American Tanker NAT has released its usual cryptic quarterly earnings report. The quarterly dividend will be 50¢ compared to 88¢ in Q1. Average daily charter rate was $26,300 for the quarter. The press release noted the Imarex Tanker index reported an average of $20,500 per day for Suezmax tankers, with a low of $9,500 and a high during the quarter of $38,900.
Almost a month and a half into the 3rd quarter, the spot tanker market still sucks, so the 3rd quarter will probably look a lot like the 2nd. The stock price has been hanging in above $30. For long term investors, this company is a buy when it drops into the $20’s. I own a personal position in NAT>
Nordic American Tanker declares dividend
Nordic American Tanker NAT has released its usual cryptic quarterly earnings report. The quarterly dividend will be 50¢ compared to 88¢ in Q1. Average daily charter rate was $26,300 for the quarter. The press release noted the Imarex Tanker index reported an average of $20,500 per day for Suezmax tankers, with a low of $9,500 and a high during the quarter of $38,900.
Almost a month and a half into the 3rd quarter, the spot tanker market still sucks, so the 3rd quarter will probably look a lot like the 2nd. The stock price has been hanging in above $30. For long term investors, this company is a buy when it drops into the $20’s. I own a personal position in NAT>