DHT Holdings, Inc. (NYSE:DHT) to Issue 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. Shareholders of record on Monday, August 18th will be given a dividend of 0.24 per share by the shipping company on Monday, August 25th. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date is Monday, August 18th. This is a 41.2% increase from DHT's previous quarterly dividend of $0.17.

DHT has a dividend 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 Price Performance

DHT stock traded down $0.07 during midday trading on Monday, reaching $11.37. 111,855 shares of the company's stock traded hands, compared to its average volume of 1,772,642. The company has a 50-day simple moving average of $11.30 and a two-hundred day simple moving average of $10.99. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 9.63 and a beta of 0.02. DHT has a 1-year low of $8.67 and a 1-year high of $12.32. The company has a quick ratio of 1.96, a current ratio of 2.33 and a debt-to-equity ratio of 0.23.

DHT (NYSE:DHT - Get Free Report) last posted its earnings results on Wednesday, August 6th. The shipping company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. DHT had a return on equity of 16.36% and a net margin of 36.58%. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $95.41 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts anticipate that DHT will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in DHT by 81.5% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock worth $25,000 after purchasing an additional 1,073 shares during the last quarter. Roble Belko & Company Inc purchased a new stake in shares of DHT during the 2nd quarter worth approximately $30,000. Tower Research Capital LLC TRC raised its position in DHT by 84.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after purchasing an additional 1,265 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in DHT by 190.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company's stock valued at $33,000 after buying an additional 1,982 shares during the period. Finally, CWM LLC grew its stake in shares of DHT by 223.4% during the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company's stock worth $32,000 after purchasing an additional 2,116 shares during the period. Institutional investors and hedge funds own 58.53% of the company's stock.

About DHT

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.