DHT Holdings, Inc. (NYSE:DHT) Announces 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) annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend 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 payout ratio of 106.5% 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 Price Performance

Shares of NYSE:DHT opened at $19.09 on Wednesday. The company’s fifty day moving average is $18.12 and its two-hundred day moving average is $15.01. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. DHT has a 12-month low of $10.61 and a 12-month high of $20.55. The company has a market cap of $3.07 billion, a P/E ratio of 14.57 and a beta of -0.08.

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

Hedge Funds Weigh In On DHT

A number of hedge funds have recently added to or reduced their stakes in the company. Baron Wealth Management LLC increased its holdings in DHT by 4.2% in the first quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock worth $269,000 after buying an additional 592 shares during the last quarter. MetLife Investment Management LLC increased its holdings in DHT by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock worth $890,000 after buying an additional 994 shares during the last quarter. Harbour Investments Inc. increased its holdings in DHT by 16.0% in the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock worth $88,000 after buying an additional 1,000 shares during the last quarter. Summit Financial LLC increased its position in DHT by 0.9% during the fourth quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock worth $1,458,000 after buying an additional 1,111 shares during the last quarter. Finally, First Trust Advisors LP increased its position in DHT by 0.6% during the second quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock worth $1,918,000 after buying an additional 1,114 shares during the last quarter. Institutional investors and hedge funds 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.