JET1C

Day Rates Headed Higher at Nordic American Tanker

I have owned NAT for about 3 years and, for the dividend investor, they are wonderful. Their policy is to pay out 90% of their earnings as dividends. Look at their historic chart, clear back to 1997 and you will see that they have a marvelous record. I wish I had found they then, I'd be sailing around on my yacht now.

Last year they spot market dropped from about $45K/day down to around $25K and their dividend dropped to around $.40 for two qtrs. Everyone got all excited and dumped them but now that the spot market is back, they are the darling that everyone has just discovered.