DHT Holdings, Inc. (NYSE:DHT) Plans Dividend Increase – $1.22 Per Share

DHT Holdings, Inc. (NYSE:DHT) declared a quarterly dividend on Wednesday, August 5th. Shareholders 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) dividend on an annualized basis and a dividend yield of 26.5%. The ex-dividend date of this dividend 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%annually 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 Up 2.9%

Shares of NYSE:DHT traded up $0.52 during trading on Thursday, hitting $18.39. The stock had a trading volume of 2,153,897 shares, compared to its average volume of 3,751,221. The company has a market capitalization of $2.96 billion, a PE ratio of 8.93 and a beta of -0.11. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average is $17.70 and its 200 day moving average is $17.33. DHT has a 12 month low of $10.69 and a 12 month high of $20.55.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. The company had revenue of $254.96 million for the quarter, compared to analysts’ expectations of $247.17 million. DHT had a return on equity of 27.54% and a net margin of 58.54%.The firm’s revenue for the quarter was up 174.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share.

Hedge Funds Weigh In On DHT

A number of institutional investors and hedge funds have recently made changes to their positions in DHT. Western Wealth Management LLC purchased a new stake in DHT during the first quarter valued at approximately $46,000. EverSource Wealth Advisors LLC grew its position in shares of DHT by 91.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,596 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of DHT by 568.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 3,022 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of DHT in the 4th quarter worth $58,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of DHT by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock worth $89,000 after purchasing an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.

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.