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NAT - Clear Dividend Policy A Winner For Nordic American Tankers
Nordic American Tankers Limited
Nordic American Tankers (NAT) is the most popular tanker stock, commanding superior stock valuations because of its long dividend history. But its capacity to declare generous dividends has been curtailed by debt covenants from its February 2019 Credit Facility with Beal Bank.
This may be a blessing in disguise, because it allows NAT to execute a clear and sustainable capital allocation strategy, including payment of dividends.
NAT, an owner of 23 Suezmax-type crude oil carriers, is led by colorful if not venerable CEO Herbjorn Hansson. It is one of the oldest publicly traded