Nordic American Tankers Stock Price, News & Analysis

Nordic American Tankers Ltd. will release its 3Q 2022 earnings on November 30, 2022, before the NYSE opens. An Investor Conference Call is scheduled for December 2, 2022, at 8 AM EST to update shareholders on the company's position. Forward-looking statements are included, stressing the uncertainty of outcomes based on various assumptions. Key factors that could impact results include global economic conditions, fluctuations in charter rates and vessel values, and operating expenses.

Nordic American Tankers Limited (NYSE: NAT) held its Annual General Meeting on November 17, 2022, in Monaco. Shareholders approved significant resolutions, including the election of Herbjorn Hansson, Jim Kelly, Alexander Hansson, and Jenny Chu as Directors of the Board. Additionally, KMPG was appointed as the independent auditors for the Company. These decisions aim to strengthen governance and oversight in the company’s operations, which may positively influence investor confidence moving forward.

Nordic American Tankers has announced a $0.05 dividend per share for 3Q 2022, marking their 101st consecutive quarterly dividend. This dividend reflects favorable market conditions for the company and underscores its commitment to returning income to shareholders. The dividend will be paid on December 20, 2022, to shareholders recorded by December 6, 2022. The Board will also provide performance guidance for 4Q 2022 in the upcoming earnings release on November 30, 2022. The company expresses optimism for potential increased dividends in the future.

Nordic American Tankers announced three recent contracts with daily rates of $60,000, $64,000, and $76,000, totaling 93 days. The company's operating costs stand at $8,000 per day. The press release emphasizes forward-looking statements regarding market conditions, operating expenses, and external factors affecting performance. Notably, the company leverages safe harbor provisions from the Private Securities Litigation Reform Act of 1995 to protect its projections.

Nordic American Tankers Limited (NAT) has scheduled its 2022 Annual General Meeting (AGM) for November 17, 2022, in Monaco. Shareholders must be on record by September 26, 2022, to vote. The official Notice and Proxy Statement will be filed with the SEC today, October 7, 2022. This communication includes a cautionary note about forward-looking statements, indicating potential risks and uncertainties that could affect the company's future performance.

Nordic American Tankers (NAT) has announced a sales agreement for a Suezmax tanker built in 2003, valued at $21 million net. The sale is expected to close in the fourth quarter of 2022, with proceeds directed toward debt reduction, aiming for a debt-free status. The buyer is a prominent international energy company. NAT continues its commitment to dividends, having paid them for 100 consecutive quarters. Recent share purchases by the founder and board member highlight confidence in the company's future, despite market uncertainties.

Nordic American Tankers Limited (NAT) announced that a company owned by founder Herbjorn Hansson purchased 100,000 shares at USD 3.16 each. Additionally, Board member Alexander Hansson has increased his holdings to 2 million shares. The Hansson family remains the largest private shareholder group in NAT. This acquisition may reflect confidence in the company's value amidst ongoing market challenges.

Nordic American Tankers (NAT) has reaffirmed the strength of its business and promising prospects in a recent communication to shareholders on September 23, 2022. The statement emphasizes solid earnings and rates, although specific financial metrics were not disclosed. It includes a cautionary statement about forward-looking statements, highlighting uncertainties in the global market that could impact performance. Key risks include fluctuations in charter rates, vessel values, and operating expenses, alongside potential litigation and regulatory challenges.

Nordic American Tankers (NAT) announced that one of its suezmax tankers has commenced a 1-year Time Charter Contract with a major energy company, generating over $30,000 per day. The company operates a uniform fleet of 20 suezmax vessels, with average operating expenses of $8,000 per day. This contract highlights NAT's strong positioning amidst increasing shipping rates, signaling potential for profitability as demand rises.