Nordic American Tankers' decision to cut its dividend to a penny signals a lower for longer-than-expected period for the suezmax specialist, Maxim Group says in a report.
The company said Friday it will cut its dividend distribution starting for the second quarter to $0.01 per share from the $0.03 per share distribution during the first quarter. It's doing so because the tanker market during the first quarter was "not satisfying."
