DHT Holdings, Inc. announces share repurchases

Rhea-AI Summary

DHT Holdings (NYSE:DHT) has announced the completion of a share repurchase program during December 2024. The company bought back 1,481,383 shares, representing 0.9% of its outstanding shares, at an average price of $8.8899 per share. The repurchased shares have been retired upon receipt.

Positive

• Share buyback reduces outstanding shares by 0.9%, potentially increasing value for remaining shareholders
• Retirement of shares demonstrates commitment to shareholder value enhancement
• Company shows financial strength to execute share repurchases

Negative

• Cash outflow of approximately $13.17 million for share repurchases reduces company's cash position

HAMILTON, BERMUDA, January 6, 2025 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced that the Company has purchased 1,481,383 of its own shares in the open market, equivalent to 0.9% of its outstanding shares, at an average price of $8.8899. The shares were purchased during December 2024 and have been retired upon receipt.

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, Singapore, and India. 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 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 20, 2024.

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

How many shares did DHT Holdings repurchase in December 2024?

DHT Holdings repurchased 1,481,383 shares in December 2024, representing 0.9% of its outstanding shares.

What was the average price per share in DHT's December 2024 buyback?

DHT Holdings purchased the shares at an average price of $8.8899 per share.

What happened to the shares DHT repurchased in December 2024?

The shares repurchased by DHT Holdings were retired upon receipt.

What percentage of DHT's outstanding shares were repurchased in December 2024?

DHT Holdings repurchased 0.9% of its outstanding shares in December 2024.

What is the total value of DHT's December 2024 share repurchase program?

Based on the average price of $8.8899 per share for 1,481,383 shares, the total value of the repurchase program was approximately $13.17 million.