Nordic American Tankers Limited (NYSE:NAT) - Declaration of dividend for the 67th consecutive quarter. Dividend is increased.

Hamilton, Bermuda April 2, 2014


The Board of Nordic American Tankers Limited has declared a cash dividend of $0.23 per share. The record date is May 15, 2014 and the payment date is on or about May 25, 2014.

We have previously informed investors about the dividend in kind (shares in Nordic American Offshore - NAO) that will be awarded to NAT shareholders having NAT shares above a certain threshhold. The dividend is expected to be equivalent to about $0.13 per NAT share. Shareholders owning shares below this threshold can expect to receive this dividend in kind in cash. NAT is the manager, sponsor and largest shareholder of NAO. NAO is in the process of seeking listing on the New York Stock Exchange. We expect this dividend in kind to be distributed after the planned listing on NYSE which we expect will take place soon. Further details on timing of NAO listing and distribution of dividend in kind will be announced later.

Nordic American Tanker Shipping Ltd., press release