Nordic American Tanker dividend guidance

Posted by Tim

July 7, 2008

Nordic American Tanker (NAT: 36.85 0.00 0.00%) has issued a press release today concerning their results for the 2nd quarter of 2008. Here are a couple of the high points:

The Imarex Tanker Index for the 2nd quarter was $70,625 vs. $43,635 for Q1.
NAT’s results may differ from the Imarex index.
The second quarter dividend to be paid in September is expected to be above $1.50 compared to the dividend of $1.18 in Q1.
The strong market is continuing into the 3rd quarter.

NAT looks like a great value at the current share price of about $36 compared to $40 just last Wednesday. Silly stock market! NAT is a component of this site’s Income Portfolio.

Note: I own a long position in NAT.