Nordic American Tankers (NAT) sharply reduced its dividend payout as it faced tanker market volatility and as it elects to avoid raising new equity to pay for its latest vessel acquisitions.
The New York-listed suezmax owner said it plans to pay $0.25 per share, down from a prior payment of $0.43 last quarter.
"The tanker market is volatile. A higher demand for tankers should result in higher dividends," the Herbjorn Hansson-led company said.
