DHT Holdings, Inc. announces 100% of net income as new dividend policy

Rhea-AI Summary

DHT Holdings, Inc. (NYSE:DHT) announced a new dividend policy on September 8, 2022, committing to return 100% of net income to shareholders through quarterly cash dividends starting in Q3 2022. This decision is supported by a strong balance sheet and liquidity position, alongside no significant planned capital expenditures. CEO Svein Moxnes Harfjeld emphasized a constructive market outlook as a driving factor behind this approach, signaling confidence in the company's financial stability.

Positive

• 100% of net income returned to shareholders as dividends.
• Implementation of quarterly cash dividends starting Q3 2022.
• Strong balance sheet and liquidity position supports this decision.

Negative

• None.

HAMILTON, BERMUDA, September 8, 2022 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces a new dividend policy with 100% of net income being returned to shareholders in the form of quarterly cash dividends. The new policy will be implemented from the third quarter of 2022.

Svein Moxnes Harfjeld, President & CEO, stated: “The key considerations behind the new policy are the strength of our balance sheet and liquidity position in combination with no current plans for significant capital expenditures. The timing of the decision and its implementation reflects our constructive market outlook.”  

About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway and Singapore. You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our combination of market exposure and fixed income contracts for our fleet; our counter cyclical philosophy with respect to investments, employment of our fleet, and capital allocation; and our transparent corporate structure maintaining a high level of integrity and good governance. For further information please visit www.dhtankers.com.

Forward Looking Statements
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company’s management as well as assumptions, expectations, projections, intentions and beliefs about future events. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect DHT’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the SEC on March 25, 2022.
The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements.

Contact:
Laila C. Halvorsen, CFO
Phone: +1 441 295 1422 and +47 984 39 935
E-mail: lch@dhtankers.com

 

FAQ

What is DHT Holdings' new dividend policy?

DHT Holdings announced that it will return 100% of net income to shareholders as quarterly cash dividends starting in the third quarter of 2022.

When will DHT Holdings start paying dividends?

DHT Holdings will begin paying dividends in the third quarter of 2022.

What percentage of net income will be paid out as dividends by DHT?

DHT Holdings will pay out 100% of its net income as dividends to shareholders.

What factors influenced DHT Holdings' decision to implement a dividend policy?

The decision was influenced by a strong balance sheet, liquidity position, and the absence of significant capital expenditure plans.

What is the stock symbol for DHT Holdings?

The stock symbol for DHT Holdings is DHT.