DHT Holdings, Inc. (NYSE:DHT) Declares Quarterly Dividend of $1.22

Key Points

• DHT Holdings declared a quarterly dividend of $1.22 per share, a 90.6% increase from the previous $0.64 payment. The dividend is payable August 24 to shareholders of record as of August 17, with the same date listed as the ex-dividend date.
• The dividend implies an annualized yield of approximately 26.7%, but DHT’s 166.2% payout ratio indicates the payment is not currently covered by earnings alone.
• DHT reported quarterly earnings of $1.22 per share and revenue of $254.96 million, exceeding analyst estimates; revenue increased 174.8% year over year, supported by strong crude-tanker market conditions.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Monday, August 17th will be given a dividend of 1.22 per share by the shipping company on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 26.7%. The ex-dividend date is Monday, August 17th. This is a 90.6% increase from DHT's previous quarterly dividend of $0.64.

DHT has decreased its dividend payment by an average of 0.1%per year over the last three years. DHT has a payout ratio of 166.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

DHT Stock Performance

NYSE DHT traded up $0.42 during trading on Thursday, reaching $18.30. The company's stock had a trading volume of 1,834,908 shares, compared to its average volume of 3,750,750. DHT has a twelve month low of $10.69 and a twelve month high of $20.55. The business's fifty day moving average price is $17.70 and its 200-day moving average price is $17.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.62 and a current ratio of 1.83. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 8.90 and a beta of -0.11.

DHT (NYSE:DHT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.04. The company had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The company's revenue was up 174.8% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS.

About DHT

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

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