Daily Stock Pick for October 27, 2023

The market has continued to take a beating this week, with the Nasdaq finally falling beneath its 200-day moving average.

But it’s Friday, so you know what that means – a high-yielding dividend stock to take home for the weekend.

Now, with the market pulling back, there are plenty of stocks with impressive dividend yields – but only because their stock prices have fallen sharply.

That’s what makes today’s pick all the more impressive…

Because not only is it paying a 10.2% dividend yield…

But it’s also trading at a 52-week high…

With macro conditions likely to see the stock push even higher (meaning its dividend yield will go down).

Nordic American Tankers Limited (NAT)

NAT is an NYSE-listed, Norwegian tanker company that operates a fleet exclusively comprised of medium-sized Suezmax tankers. More importantly, it has never failed to pay a quarterly dividend to its shareholders since 1997 – and that track record doesn’t look to be in jeopardy anytime soon.

NAT’s stock spiked in the first two months of the year, before coming down again – but it has since steadily regained ground to now trade at 52-week highs. And with geopolitical conflict presenting a tailwind for the O&G sector, NAT’s stock looks poised to continue its climb.

Again, NAT’s stock currently yields a 10.2% dividend – which may seem unstable. But with a dividend payout ratio of just 66%, NAT’s dividend payout is in fact highly comfortable. This makes it a prime candidate for a “buy and forget” high-yield dividend stock.

To your wealth,
Felix @ Ace of Investing