Nordic American Tankers Reports H1 2024 Dividend & Earnings

TL;DR

NAT dropped its H1 2024 earnings and dividend report on Aug 29.

AI Summary

Nordic American Tankers Limited (NAT) announced its dividend and earnings report for the first half of 2024 on August 29, 2024. The company is a Bermuda-based operator of Suezmax tankers, which are large oil tankers.

Why It Matters

This filing provides investors with an update on the company's financial performance and dividend distribution, crucial for assessing the health of the tanker shipping industry.

Risk Assessment

Risk Level: low — This is a routine earnings and dividend announcement, not indicating any immediate operational or financial distress.

Key Players & Entities

• Nordic American Tankers Limited (company) — Registrant
• August 29, 2024 (date) — Announcement date
• 2024 (date) — Reporting period

FAQ

Key Financial Figures

• $21.6 m — r of 2024, NAT produced a net profit of $21.6 million, which is a substantial improveme
• $15.1 million — ous quarter (1Q24) with a Net Profit of $15.1 million. 2. The dividend for the second quar
• $0.12 — end for the second quarter is 12 cents ($0.12) per share. This is our 108 th consecut
• $50 — paid an aggregate dividend of more than $50 per share since NAT became stocklisted
• $36,600 — NAT time charter for all our ships was $36,600 per day per ship. The daily operating c
• $9,000 — aily operating costs per ship are about $9,000, leaving NAT with a solid margin. 4.
• $21.6 million — ond quarter of 2024, the net income was $21.6 million or an EPS of $0.10. The average time c
• $0.10 — t income was $21.6 million or an EPS of $0.10. The average time charter equivalent (
• $218.5 m — abilities less current assets) stood at $218.5 million, which equals $10.9 million per s
• $10.9 million — ) stood at $218.5 million, which equals $10.9 million per ship based on 20 vessels, as of Jun
• $78.6 m — 30, 2024 a total outstanding balance of $78.6 million, presented as current. 2) The 6
• $209.9 m — 30, 2024 a total outstanding balance of $209.9 million, including current portion of the
• $98.7 million — urrent portion of long-term debt is now $98.7 million net of transaction costs. $20.4 million
• $20.4 million — $98.7 million net of transaction costs. $20.4 million is related to the Ocean Yield financing
• $78.3 million — elated to the Ocean Yield financing and $78.3 million is related to the Beal/CLMG financing.

Filing Documents

• d11456436_6k.htm (6-K) — 44KB
• image0.jpg (GRAPHIC) — 15KB
• image00004.jpg (GRAPHIC) — 98KB
• image00005.jpg (GRAPHIC) — 45KB
• image00006.jpg (GRAPHIC) — 65KB
• 0000919574-24-005362.txt ( ) — 352KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NORDIC AMERICAN TANKERS LIMITED (registrant) Dated: September 3, 2024 By: /S/ HERBJRN HANSSON Herbjrn Hansson Chairman, President, and Chief Executive Officer Exhibit 1 Nordic American Tankers Limited (NYSE: NAT) – Report as per June 30, 2024 – A dividend company with good prospects Thursday, August 29, 2024 Highlights: Ninety day periods offer a short-term snapshot of a company. However, it is more important to view the long-term picture. The direction of NAT is unquestionably upward, with further room to grow. 1. For the second quarter of 2024, NAT produced a net profit of $21.6 million, which is a substantial improvement compared with the previous quarter (1Q24) with a Net Profit of $15.1 million. 2. The dividend for the second quarter is 12 cents ($0.12) per share. This is our 108 th consecutive quarterly cash dividend payment. The dividend is payable November 26, 2024, to shareholders on record as of September 26, 2024. NAT has paid an aggregate dividend of more than $50 per share since NAT became stocklisted in New York, September 15, 1995. 3. During the second quarter of 2024 the total average NAT time charter for all our ships was $36,600 per day per ship. The daily operating costs per ship are about $9,000, leaving NAT with a solid margin. 4. There is a shortage of the type of ships that NAT is operating and the ongoing hostilities in the Middle East are exacerbating this situation. 5. oil demand continues to grow in Asia, creating more need for our vessels. India, the most populous country on the planet, is the world's third largest importer of oil. China is also a key country for NAT together with Japan and South Korea. NAT has not transported Russian oil the last 3.5 years. 6. The NAT fleet of versatile suezmax tankers offer flex

forward-looking statements

forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K. Conta

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View this 6-K filing on SEC EDGAR