The day after shelling out for Nordic American Tankers stock, Herbjorn Hansson's son is buying another round.
Tuesday afternoon the company disclosed Alexander Hansson spent $113,500 on 50,000 shares at $2.27 a piece.
Monday, the shipping scion bought 100,000 shares of the company his father runs at $2.31.
In midday trading Tuesday, Nordic American Tankers shares were up just over a cent to $2.25. Shares opened Monday at $2.38.
The buys come on the heels of the New York-traded tanker owner's new $306m financing deal with Beal Bank of Dallas.
The deal replaces a previous financing agreement that capped dividends at $0.03 per share. In announcing its fourth quarter results — in which the company lost $10.5m — the company announced a $0.04 per share dividend.
Analysts from Arctic Securities, who advised on the deal, said the slight bump in dividend was a taste of what investors can expect moving forward.
The younger Hansson had primarily taken positions in Nordic American Offshore, another company founded by his father that he has since relinquished control of.
