Shipping magnate Nordic American Tankers (NYSE: NAT ) announced 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.