Nordic American Tankers: Lessons Learned from The Dividend Yield

By Andreas Vergottis

Ever since its inception, Nordic American Tankers and, for that matter, its similarly structured peer Knightsbridge Tankers have traded at a premium valuation that other plain vanilla tanker companies could only dream of. Table 1 shows that the historic average Price to Book ratio of NAT and Knightsbridge has exceeded 120 cents/dollar. By contrast, the average peer group rating has been a paltry 89 cents/dollar

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