Nordic American Tankers' 4Q2014 Report / dividend of $0.22
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Hamilton, Bermuda, February 9, 2015
Rates improved in 4Q2014 compared with 3Q2014 and 4Q2013. The significant drop in oil prices has impacted the tanker industry positively. Cashflow from operations[1] was $24.5m, compared with $21.7m in 3Q2014, and $1.9m in 4Q2013. The Suezmax tanker market was much better in 2014 than in 2013. For 2014 as a whole, cashflow from operations was $77.7m compared with -$11.1m in 2013. So far rates achieved in 1Q2015 are well above the $30,000 per day range or about 40% higher than we achieved in 4Q2014. So far, about 50% of our transportation capacity has been booked for 1Q2015.
On January 9, 2015, NAT declared a cash dividend of $0.22 per share payable to shareholders of record as of January 22, 2015. The dividend is expected to be paid on or about February 9, 2015. Since NAT commenced operations in the fall of 1997, the Company has paid a dividend 70 times, with total dividend payments over the period amounting to $45.38 per share, including the dividend to be paid February 9, 2015.
Our Suezmax newbuildings, for delivery in 2016 and 2017, are expected to be financed by the internal resources of the company.
Link to the complete 4th Quarter 2014 report: http://hugin.info/201/R/1892717/670486.pdf
Web-site:
http://nat.bm/
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