Nordic American Tankers Makes It 64 in a Row
Shipping magnate Nordic American Tankersannounced today its second-quarter dividend of $0.16 per share, the same rate it's paid for the past two quarters after slashing the payout 47% from $0.30 per share. Even so, it marks the 64th consecutive quarterly dividend payment the tanker operator has made.
The board of directors said the quarterly dividend is payable on Aug. 13 to the holders of record at the close of business on July 31. The tanker operator has made quarterly payouts to investors since 1997.
The regular dividend payment equates to a $0.64-per-share annual dividend, yielding 8.2% based on the closing price of Nordic American Tankers' stock on July 8.
The article Nordic American Tankers Makes It 64 in a Row originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.