NAT Q2 Net Income Jumps 48% to $68.3M, Dividend Raised to $0.27
NAT has more than doubled off its 52-week low of $2.96.
Summary
Nordic American Tankers reported Q2 2026 net income of $68.3 million, up from $46.3 million in Q1, driven by a TCE of $63,000 per day versus $47,600 in the prior quarter. The company raised its quarterly dividend to $0.27 per share from $0.22, marking the 116th consecutive quarterly payout. Cash stands at $175 million, and one older vessel was sold for $26 million. Q3 bookings are strong with 75% of the fleet booked at about $54,000 per day. This follows the Q1 6-K filed in June and the CEO's July comments on strong suezmax rates. The stock is trading near its 52-week high, reflecting the robust tanker market.
At the time of this announcement, NAT was trading at $7.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $2.96 to $7.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.