10 Best Dividend Stocks with Over 9% Yield According to Analysts

2. Nordic American Tankers Limited (NYSE:NAT)

Upside Potential as of August 12: 50.8%

Dividend Yield as of August 12: 12.01%

With an upside potential of over 50%, Nordic American Tankers Limited (NYSE:NAT) ranks second on our list of the best dividend stocks according to analysts. The Bermuda-based international tanker company has declined by nearly 18% since the start of 2024 due to growing geopolitical tensions across the Red Sea. This shows that despite having a strong business model, the company is not immune to ongoing global challenges.

Let’s concentrate on the positives for now. The current supply and demand dynamics for Nordic American Tankers Limited’s (NYSE:NAT) fleet are favorable, supporting an optimistic outlook. Furthermore, the company boasts one of the lowest debt levels among publicly traded tanker firms. As of March 31, 2024, the company’s net debt—determined by subtracting current assets from total liabilities—was $228 million. With a fleet of 20 vessels, this amounts to $11.4 million of debt per ship. The company also has a low debt-to-equity ratio of 0.5.

Nordic American Tankers Limited (NYSE:NAT) places significant emphasis on the strategic timing and financing of expansions to ensure financial stability and maintain its commitment to dividend payments. The company has consistently paid dividends for 107 consecutive quarters, making it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.12 per share for a dividend yield of 12.01%, as of August 12. The company anticipates increasing its payouts when market conditions improve. In addition, its cash position is robust, with over $37.5 million in operating cash flow generated in the first quarter of 2024.

The number of hedge funds tracked by Insider Monkey owning stakes in Nordic American Tankers Limited (NYSE:NAT) grew to 18 in Q1 2024, from 16 in the previous quarter. The consolidated value of these stakes is more than $20.2 million. With over 8.5 million shares, Two Sigma Advisors was the company’s leading stakeholder in Q1.