DHT Holdings, Inc. (NYSE:DHT) Announces $0.02 Quarterly Dividend
DHT Holdings, Inc. (NYSE:DHT) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Thursday, August 24th will be paid a dividend of 0.02 per share by the shipping company on Thursday, August 31st. This represents a $0.08 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Tuesday, August 22nd.
DHT Holdings has raised its dividend payment by an average of 107.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. DHT Holdings has a payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect DHT Holdings to earn $0.37 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 21.6%.
Shares of DHT Holdings (DHT) traded up 2.39% during midday trading on Friday, hitting $3.85. The stock had a trading volume of 680,166 shares. DHT Holdings has a 12 month low of $3.29 and a 12 month high of $5.20. The stock’s 50 day moving average price is $4.11 and its 200 day moving average price is $4.44. The firm’s market cap is $548.04 million.
DHT Holdings (NYSE:DHT) last issued its quarterly earnings results on Tuesday, August 8th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $59.63 million for the quarter, compared to the consensus estimate of $58.47 million. DHT Holdings had a positive return on equity of 6.07% and a negative net margin of 12.48%. On average, equities analysts forecast that DHT Holdings will post $0.24 EPS for the current fiscal year.
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DHT has been the topic of a number of recent analyst reports. Maxim Group set a $7.00 price target on DHT Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BidaskClub downgraded DHT Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. TheStreet downgraded DHT Holdings from a “c” rating to a “d+” rating in a research report on Monday, May 8th. Jefferies Group LLC restated a “buy” rating and issued a $6.00 target price on shares of DHT Holdings in a research report on Monday, April 24th. Finally, Zacks Investment Research downgraded DHT Holdings from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. DHT Holdings currently has a consensus rating of “Hold” and an average price target of $5.70.
About DHT Holdings
DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.
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