"...As
a matter of policy, the Company has always kept a strong balance sheet
with low net debt and a focus on limiting the Company's financial risk.
This policy will continue. At the end of 2Q2014 the net debt per NAT vessel was about $5m including the remaining purchase price for the 21st and 22nd vessel that were delivered to us in 3Q2014.
The
Company is well placed to take advantage of strong shipping markets,
which can be expected to be reflected in increased dividend payouts
immediately following a market upswing.
It is a prerequisite for any expansion of the fleet that our dividend and earnings capacity per share increase, following such a transaction..."
Translation: Expect another dilution of shareholder equity to finance fleet expansion shortly after pumping the stock with a dividend increase if there is a market upswing.
This is about the umpty-umpth announcement of the same dividend in kind distribution. I am beginning to lose confidence that share holder interests and management interests coincide, so I'm starting to look for an alternate investment.