NORDIC AMERICAN TANKERS Ltd
For the period ended Sep 30, 2024. Filed Sep 3, 2024.
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Sep 30, 2024 · Filed Sep 3, 2024
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Contents
Financing
Our Net Debt (total liabilities less current assets) stood at $218.5 million, which equals $10.9 million per ship based on 20 vessels, as of June 30, 2024.
The details of our financing arrangements are as follows;
| 1) | The 14 vessels financed through CLMG/Beal Bank had as of June 30, 2024 a total outstanding balance of $78.6 million, presented as current. |
| 2) | The 6 vessels financed through Ocean Yield have as of June 30, 2024 a total outstanding balance of $209.9 million, including current portion of the debt. |
Current portion of long-term debt is now $98.7 million net of transaction costs. $20.4 million is related to the Ocean Yield financing and $78.3 million is related to the Beal/CLMG financing. Restricted cash of $6.8 million is related to deposits held for future Drydocking’s of our vessels.
For the second quarter of 2024 a cash dividend of 12 cent ($0.12) per share has been declared. This is our 108 th consecutive quarterly dividend.
Payment of the dividend will be on November 26, 2024, to shareholders of record on September 26, 2024.
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