DHT Holdings, Inc. (NYSE:DHT) Plans Dividend Increase – $0.64 Per Share

DHT Holdings, Inc. (NYSE:DHT) announced a quarterly dividend on Monday, May 4th. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.64 per share by the shipping company on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 12.9%. The ex-dividend date is Thursday, May 21st. This is a 56.1% increase from DHT’s previous quarterly dividend of $0.41.

DHT has decreased its dividend by an average of 0.1%per year over the last three years. DHT has a dividend payout ratio of 106.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

DHT Stock Up 3.5%

Shares of DHT stock opened at $19.78 on Wednesday. DHT has a one year low of $10.61 and a one year high of $20.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. The stock’s 50-day moving average is $18.12 and its 200 day moving average is $15.01. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 15.05 and a beta of -0.08.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business had revenue of $117.85 million during the quarter, compared to analysts’ expectations of $116.96 million. During the same period last year, the company posted $0.34 earnings per share. The business’s quarterly revenue was up 37.8% on a year-over-year basis.

DHT Company Profile

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.