Nordic American Tankers Limited (NYSE:NAT) Faces Earnings Miss but Maintains Dividend and Expands Fleet

Core Viewpoint - Nordic American Tankers Limited (NAT) reported disappointing Q3 earnings, missing both EPS and revenue estimates, while maintaining a dividend to support investor confidence and planning fleet expansion through new tanker construction [2][3][5]. Financial Performance - NAT reported an earnings per share (EPS) of -$0.01, missing the estimated EPS of $0.10 [2][6] - Revenue was approximately $45.7 million, falling short of the expected $70.3 million [2][6] - The company's return on equity stands at 2.67%, with a net margin of 7.58% [4] Stock Market Reaction - Following the earnings announcement, NAT's stock price declined by 3.6%, reaching a low of $3.62 [4] - The trading volume was 1.6 million shares, a 37% decrease from the average session volume of 2.5 million shares [4] Dividend Declaration - NAT declared a quarterly cash dividend of $0.13 per common share, payable on December 22, aiming to retain investor confidence [3][6] - This dividend represents an increase from previous payouts [3] Strategic Developments - NAT entered into a letter of intent with a Korean shipyard for the construction of two Suezmax tankers, each priced at $86 million [5][6] - This move indicates the company's commitment to expanding its fleet and enhancing operational capabilities [5][6]