DHT Holdings, Inc. (NYSE:DHT) Plans Dividend Increase - $0.24 Per Share

Key Points

• DHT Holdings, Inc. has declared a quarterly dividend of $0.24 per share, which represents a 41.2% increase from the previous dividend of $0.17, with a yield of 8.2%.
• The company reported a net margin of 32.87% and earnings per share of $0.24 for the quarter, exceeding analyst expectations, though revenue decreased by 10.5% year-over-year.
• As of the latest data, institutional investors own 58.53% of DHT, with several hedge funds recently increasing their stakes in the company.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Monday, August 18th will be paid a dividend of 0.24 per share by the shipping company on Monday, August 25th. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Monday, August 18th. This is a 41.2% increase from DHT's previous quarterly dividend of $0.17.

DHT has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect DHT to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 42.6%.

DHT Stock Up 1.3%

Shares of DHT stock traded up $0.16 on Thursday, hitting $11.69. The stock had a trading volume of 1,826,456 shares, compared to its average volume of 1,786,112. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.59 and a quick ratio of 1.29. The business has a 50 day moving average of $11.30 and a 200 day moving average of $10.97. DHT has a 12-month low of $8.67 and a 12-month high of $12.32. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 10.62 and a beta of 0.02.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. DHT had a net margin of 32.87% and a return on equity of 17.08%. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $95.41 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts expect that DHT will post 0.94 EPS for the current year.

Institutional Trading of DHT

Several hedge funds have recently added to or reduced their stakes in the business. CSM Advisors LLC purchased a new position in shares of DHT in the second quarter worth about $498,000. Campbell & CO Investment Adviser LLC bought a new position in DHT during the 2nd quarter worth approximately $1,231,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in DHT in the 2nd quarter worth approximately $463,000. Savant Capital LLC bought a new stake in DHT in the second quarter valued at approximately $240,000. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of DHT during the second quarter valued at approximately $1,179,000. 58.53% of the stock is owned by institutional investors.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.

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