Nordic American Tanker (NAT) - crude tanker owner that specializes in one category of tanker - Suezmax tankers. NAT does have some old tankers. But the current market is quite tight, so those old vessels can be operated with above-average margins. OTOH, the tight market also offers a good sellers market.
Idea is primarily a trading fish. But, as a company that has offered a dividend (a variable one) for many years, it does have some downside protection
BTW, NAT is up to around 100 quarterly dividend payouts - that’s 25 years and counting. Last payout was 15c, and the one prior was 5c. In the Oughts decade, there were times it paid quarterly dividend > $1.50
05/22
An update. Q1 2023 results were announced today. Huge rev jump vs comparable Q1. Earnings jumped too. Maintained div @ 15c/sh. Q2-to-date suggests Q2 will not be as strong as Q1
As noted in the initial post, NAT is a trading idea for me. YMMV