Nordic American Tanker Shipping Ltd. (NAT) said that its board is committed to continuing its dividend policy which remains firmly in place. From 2004 and up to late August this year total return for the period was about 95% or 14.3% on an annualized basis. Throughout this period Nordic American has kept its full payout dividend policy.
In a letter to shareholders, Herbjorn Hansson, Chairman & CEO of company, said that the company has grown from 3 vessels in 2004 to 16 suezmax vessels now, including two newbuildings expected to be delivered in 2010. At this time the Company has adequate financial resources to buy more vessels without tapping the equity market. In short, Nordic American is well positioned for further strong growth and increase of dividend capacity.
Including all cash expenses, the company estimates that its cash break-even for trading fleet is below $10,000 per day per vessel. The next dividend is expected to be paid on or about December 4, 2009 to shareholders of record November 23, 2009.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.