13 High-Dividend Stocks to Invest In Under $10

3. Nordic American Tankers Limited (NYSE:NAT)

Dividend Yield as of April 8: 14.85%

Share Price as of the Close of April 7: $2.35

Nordic American Tankers Limited (NYSE:NAT) is a Bermuda-based international tanker company that owns, operates, and charters Suezmax tankers. In its latest earnings report, the company noted that, as part of its ongoing fleet optimization strategy, it had agreed to acquire a 2016-built Suezmax tanker from a reputable seller since the close of 2024. The vessel, priced in the mid to high $60 million range, is scheduled for delivery in the second quarter of the current year. Management indicated that the addition is expected to enhance both earnings potential and dividend capacity. The purchase is expected to be funded through a combination of cash and lease financing.

For the full year of 2024, Nordic American Tankers Limited (NYSE:NAT) reported net voyage revenues of $225 million and a net profit of $46.6 million. During the fourth quarter, the fleet’s average time charter equivalent (TCE)—which includes both spot and time charter vessels—stood at $26,416 per day per ship. This performance resulted in a strong operating margin, considering that daily operating expenses per vessel are approximately $9,000. In addition, following a newly secured and more favorable $150 million financing arrangement with Beal Bank, seven of NAT’s vessels remain unencumbered and debt-free, offering the company increased financial flexibility.

Nordic American Tankers Limited (NYSE:NAT), one of the best dividend stocks, has paid regular dividends to shareholders for 110 consecutive quarters. It currently offers a quarterly dividend of $0.06 per share and has a dividend yield of 14.85%, as of April 8.