Nordic American Tanker climbs on Q4 dividend forecast

Nordic American Tankers

30/11/2022 18:55

** Shares of Nordic American Tanker Ltd  NAT.N  rise as much
as 4.6% to $3.63 
    ** Co says Q4 dividend likely to double from Q3 dividend of
5 cents per share, based on the current-quarter performance so
far  urn:newsml:reuters.com:*:nGNE1rtppz
    ** CEO Herbjorn Hansson says "given the geopolitical
realities we face now, oil will have to be transported over
longer distances than in the past, increasing ton-mile and
demand for our tankers." 
    ** Co says, so far, 74% of their Q4 spot voyage days have
been booked at an average Time Charter Equivalent (TCE) of
$54,100 per day per ship
    ** The company's TCE for Q3 was $27,850 per day per ship 
    ** Including the session's gains, stock is up 110.8% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))