Nordic American Tanker (NAT) Declares $0.50 A Share Dividend, Yielding 11.71%

The Company will pay a dividend of $0.50 per share on or about September 4, 2009, to shareholders of record as of August 21, 2009.

To receive this dividend, you must own your shares by August 19th.

Nordic American Tanker Shipping (NAT) said it swung to a second-quarter loss of $137,000, as net voyage revenue dropped to $29.7 million from $63.2 million. It earned $35.5 million in the year-earlier period. It said earnings per share from continuing operations were 9 cents a share. Analysts polled by FactSet had expected earnings of 5 cents a share. The company will pay a dividend of 50 cents per share on or about Sept. 4, 2009, to shareholders of record as of Aug. 21, 2009, down from 88 cents in the first quarter.

Disclosure I am long NAT shares.