The way I read the announcement, the cash part of the dividend should have been paid out early this week. But the NAO shares will come later....in fact no record date has been announced for them yet, so don't expect them very soon. In fact, one must own the stock on the record date (whenever that is) to receive the shares of NAO.
It's a little hard to figure out what's apples to apples, so I looked at the guidance that they gave a year ago ($1.90 to $2.00 a share). Now they are guiding at $2.00 to $2.20. This looks like about a 7 or 8 percent increase in guidance when comparing the midpoints. This, plus the 8% dividend looks pretty good to me, so I added a little to my position.
Rates are low for all but the VLCCs, which have been going up and are now about $45K. Let's hope the others follow them up.
Good news on the dividend. As I expected, it's a combination of cash and stock in NAO, with the total being worth about $.25. Timing is delayed a little because of the need to get NAO listed on the NYSE.
I don't expect any increase for q4. The spike in rates came too late to help much. If earnings match q3, that would be about in line with average rates for the quarter.
They said that they are "considering" giving some NAO stock as part of the dividend (about $.13 cents worth of it per share of NAT). Not a bad idea, since they could then reduce the cash portion a little to save cash in the short term. This would also serve to increase awareness of NAO stock. Presumably, this would only happen when the new company is listed on the NYSE or NASDAQ.
Looks like you're right. Today is the second day in a row when Suezmax, Aframax and Panamax rates have increased, while VLCC rates have dropped. (Per Intertanko)
I also received a few shares of GM, GMWA, and GMWB in my account. I'm not sure what the GMWA and GMWB are, but they do show a value. I didn't have any GM in the account, but I do have some Motors Liquidation, received when the GM bonds fell apart. Don't know if this will happen again, but it was a nice surprise.