DHT Holdings Inc (DHT) Plans Quarterly Dividend of $0.02

DHT Holdings Inc (NYSE:DHT) declared a quarterly dividend on Thursday, November 1st, Fidelity reports. Stockholders of record on Friday, November 16th will be given a dividend of 0.02 per share by the shipping company on Friday, November 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 15th.

DHT has increased its dividend payment by an average of 35.7% per year over the last three years. DHT has a dividend payout ratio of -22.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect DHT to earn $0.18 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 44.4%.

DHT stock opened at $5.07 on Friday. DHT has a 12 month low of $3.27 and a 12 month high of $5.60. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.78 and a quick ratio of 1.33.

DHT (NYSE:DHT) last announced its earnings results on Thursday, November 1st. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). DHT had a negative net margin of 23.10% and a negative return on equity of 6.95%. The company had revenue of $48.20 million for the quarter, compared to the consensus estimate of $50.07 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts anticipate that DHT will post -0.23 EPS for the current year.

Several brokerages have issued reports on DHT. TheStreet upgraded shares of DHT from a “d+” rating to a “c” rating in a research report on Thursday, November 1st. Wells Fargo & Co lifted their target price on shares of DHT from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Morgan Stanley lifted their target price on shares of DHT from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Zacks Investment Research upgraded shares of DHT from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday. Finally, ValuEngine upgraded shares of DHT from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Nine investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $6.17.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/11/10/dht-holdings-inc-dht-plans-quarterly-dividend-of-0-02.html.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

Featured Story: How a Put Option Works

Dividend History for DHT (NYSE:DHT)

Receive News & Ratings for DHT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DHT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply