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DHT Holdings' Dividend Target: 0.08 Cents Per ShareDHT Holdings' Dividend Target: 0.08 Cents Per Share
Summary
DHT Holdings is coming off a terrific period with great spot rates.
Current rates aren't great at all and there's little reason for near-term optimism.
The dividend is flexible and based on real underlying earnings.
Barring a lucky spike in spot rates, the dividend is likely to be reduced substantially.
This is a great explanation of why rates have been low. Thank you for sharing. I've owned DHT a long time. Even 1/4 of the current dividend is still pretty good. .23 was not luck at all. Their policy is minimum 60% distribution
Crude Tanker Market Update - Focus On Trade FlowsCrude Tanker Market Update - Focus On Trade Flows
Crude tanker rates have fallen steadily throughout 2016.
Several factors contributed to this downturn and understanding the various causes will be key to making future predictions.
Here we will focus on changing trade patterns and how they impact crude tanker rates.
Ok, so what? Minimum 60% distribution. I'll take that all day long! DHT
The dividend is clearly not safe. Day rates are falling and the dividend will too, IMO. Lucky we got 0.23
23 cents works out to about an 18% dividend for the $5 I paid for this stock..pretty good if the divy holds and the sp also holds.
The company is buying back its own securities. They repurchased $1.0 million of its convertible senior notes. I think each note entitles the bearer to purchase 143 common shares at $6.96 a share. I do not know why the company is buying senior notes instead of common shares. Buying the common shares looks like a better deal, $5.24 v. $6.96.
DHT Ex div on 8/22 (0.23) closes up 0.34 today (7%) on heavy volume.
On Option monster they pointed out heavy call buying there:
Call buyers returning to DHT Holdings http://finance.yahoo.com/news/call-buyers-returning-dht-holdings-131642783.html?soc_src=copy
Maybe a takeover going to happen?
Depending upon the amount of the dividend cut and Management's message to shareholders. I will be buying with both hands.
Yes they did.
$.23 payable August 31 x div Aug 21
Div reduced from $.25
I wish they retained more earnings to reduce debt and handle lower future tanker rates. Or buy back shares and the company can basically get a 20% ROI
Toofuzzy
I think they already announced it at .23
Nice move up in pre market today. I guess the reduced earnings are better than everyone was expecting. Higher than last year at least.
I am pretty sure the dividend will be cut some. We should know in a few days.
Toofuzzy
Yes, but everyone expects a dividend cut because they are not earning the payout. It happens. But I usually wait until the cut is announced and the inevitable shift of income investors that get nervous get out and the nex income investors who are buying in at good prices come in.
Just did that with NAT.
Not just tanker companies. I watch all high yield plays that are going to have to reduce the payout. Did that with PSEC. Check that chart--after the cut.
GLTU, pack.
Well that is lower than the last dividend so I guess the divident will be reduced?
Toofuzzy
after hours it seems to be up
extremely positive quarter
awesome news
Ya, 23 cents, I can live with that. Hopefully that will push the stock price up
Have you seen the earnings? They look good.
When the dividend is cut and everyone knows how much, I will probably be buying into the selloff.
They have the lowest p/e of the group. Best way I know is to listen / read the transcript from their earnings report. I'm more interested in the amount,than when.
When is DHT cutting their dividend?
Sure would think the bottom is in. Having difficulty determining what makes the pps move. Oil has been down of late. This stock is still the best value in its space.
After the close:
13:02:01 4.67 30,191 for $140,992
They just changed the release date. Could mean a surprise. I bought some more at 4.655 and took a put hedge.
Check latest announcement. 08/09 after close.
DHT Holdings, Inc. to announce second quarter 2016 results on Wednesday August 10, 2016
Print
Alert
Double Hull Tankers (NYSE:DHT)
Intraday Stock Chart
Today : Thursday 28 July 2016
Click Here for more Double Hull Tankers Charts.
DHT Holdings, Inc. (NYSE:DHT) will release its second quarter 2016 results after market close on Tuesday August 9, 2016.
The company will host a conference call and webcast which will include a slide presentation at 8:00 a.m. EDT/14:00 CEST on Wednesday August 10, 2016 to discuss the results for the quarter.
All shareholders and other interested parties are invited to join the conference call, which may be accessed by calling 1 212 444 0412 within the United States, 23500486 within Norway and +44 20 3427 1906 for international callers. The passcode is "DHT" or "486962".
The webcast which will include a slide presentation will be available on the following link:
http://edge.media-server.com/m/p/xwhywsgk and can also be accessed in the Investor Relations section on DHT's website at http://www.dhtankers.com.
August 2nd after the market close.
End of July, beginning of August.
Toofuzzy
Anyone know when the earning report comes out?
How about the latest article from SA. totally agree. Price target is much higher than current price
DHT has immediate upside of 50%, and far greater long-term upside. My personal medium-term target is $10/sh.
Nice bounce off the new bottom of 4.56.
How much will the declared dividend be at the end of the month?
Earnings are being tabulated for release on 7/28 after the close. Volume increased, but not unheard of. The stock is approaching over sold.
DHT Holdings: Just Not Cheap Enough
If they declare a $0.25 dividend, use it to by more on Ex-Div day.
oil down 4.8% DHT down 8.25% this is ugly.
Who the hell sells down here? the previous 52wk low was 4.7ish. there's that many people selling for a loss? I find that hard to believe.
what the hell is going on with DHT today?!??
Hi Mister
I just feel that spot tanker rates will be a good predictor of what DHT stock will do prior to waiting for them to anounce earnings. I dont want to follow this down the rabbit hole again.
Toofuzzy
DHT will go up, eventually. The dividend makes it easy to wait. The target price is /$10-12.
Broken Market: 44% Cash Yield With A Strong Balance Sheet
Hi pack10
I have owned this from before the reverse split and got beat up pretty bad buy the drop in price before and after that. I dont want to go thru that again.
Toofuzzy
IMO, think longer term. read my post again.
Anybody have any idea of how tanker rates are doing recently?
I would like to buy more but not if tanker rates have been going down recently or will be in the near future.
To paraphrase Megan Trainer " its all about the rates"
Toofuzzy
To me this is an important factor when considering buying. I'. a buyer below 5
DHT Holdings’s low multiple
DHT Holdings (DHT) is currently trading at a forward EV-to-EBITDA multiple of ~4.6x, the lowest among its peers. The company has a strong balance sheet. It has a good mix of spot and fixed exposure.
DHT’s tankers are relatively young, and it’s expanding its fleet. Despite these factors, investors have given it a lower valuation, most likely due to its convertible deb
Misterec
DHT had a reverse 1 for 12 stock split since then. If not for that the current stock price would be 1/12 of what it is now. The $200 price on charts is the way to account for that.
Toofuzzy
Yahoo gives:
Date Open High Low Close Volume Adj Close*
Aug 3, 2007 18.00 18.00 16.75 16.78 57,800 97.23
Aug 2, 2007 18.20 18.27 17.78 17.99 22,500 104.24
Aug 1, 2007 18.08 18.08 17.71 17.94 29,900 103.95
Jul 31, 2007 17.27 18.10 17.26 17.81 48,000 103.19
Jul 30, 2007 18.13 18.35 17.98 18.12 23,000 104.99
Jul 27, 2007 17.75 18.33 17.75 18.11 36,400 104.93
Jul 26, 2007 18.11 18.12 17.25 17.75 53,200 102.85
Jul 25, 2007 17.83 18.27 17.56 18.18 51,000 105.34
Jul 24, 2007 17.92 17.92 17.27 17.60 37,200 101.98
Jul 23, 2007 17.83 18.05 17.79 17.90 46,000 103.72
Jul 20, 2007 17.92 18.33 17.65 17.76 69,700 102.91
Jul 19, 2007 17.20 18.79 16.90 17.97 101,300 104.12
Exactly. DHT never actually traded for $200 pps
There was a 1 for 12 RS in about 2012
The dividend will definitely vary.
this was once a $200 stock
target range of $10-15
Thanks. The only thing that concerns me is the rather large dividend payout. Don't know if it is sustainable.
I am sure they do. I would contact my brokerage, or email the company.
contact us
http://www.dhtankers.com/index.php
Does DHT have a dividend reinvestment program (DRIP)?
Tanker companies fluctuate greatly in success. In July 2007, DHT was $220 and they had just paid a dividend of $0.39. Price of the stock when you bought it determines your % return. The dividend will fluctuate and the share price will, too.
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DHT Holdings, Inc.
http://www.dhtholdings.com/
COMPANY OVERVIEW
DHT Maritime, Inc. (formerly Double Hull Tankers, Inc.), (NYSE: DHT), commenced operations in October 2005. The Company acquired seven double hull crude oil tankers that originally were chartered to OSG for periods ranging from five to six and one-half years with options to extend the charters for an additional five to eight years depending on vessel. In December 2007 and January 2008, DHT took delivery of two Suezmax tankers that entered into seven and ten year charters to OSG.
In March, 2010, DHT Maritime, Inc. completed a series of transactions that resulted in DHT Holdings, Inc., a newly formed corporation organized in the Marshall Islands, becoming the publicly held parent company of DHT Maritime, Inc. As a result of the transactions, each shareholder of DHT Maritime, Inc. holds one share of DHT Holdings, Inc. common stock for each share of DHT Maritime, Inc. common stock held by such shareholder immediately prior to the series of transactions
In September 2010, DHT changed senior management with the Norwegian shipping partners Svein Moxnes Harfjeld and Trygve P. Munthe joining the company. The company subsequently set out a strategic change from having been a leasing company to become an operational ship owning company. The strategic change included building an efficient and competent organization in DHT's management company in Norway and set the company on a path for prudent growth.
In March 2011 DHT took delivery of the VLCC DHT Phoenix and in May 2011, the company took delivery of the VLCCs DHT Eagle and Venture Spirit.
MANAGEMENT
vein Moxnes Harfjeld Chief Executive Officer | |
Mr. Harfjeld joined DHT as Chief Executive Officer on September 1, 2010. Mr. Harfjeld has over 20 years of experience in the shipping industry. He was most recently with the BW Group, where he held senior management positions including Group Executive Director, CEO of BW Offshore, Director of Bergesen dy and Director of World-Wide Shipping. Previously he held senior positions at Andhika Maritime, Coeclerici and Mitsui O.S.K. Mr. Harfjeld is a citizen of Norway. |
Trygve P. Munthe President | |
Mr. Munthe joined DHT as President on September 1, 2010. Mr. Munthe has over 20 years of experience in the shipping industry. He most recently served as Director with the Norwegian shipowner Arne Blystad. He was previously CEO of Western Bulk, President of Skaugen Petrotrans and CFO of I.M. Skaugen. Mr. Munthe is a citizen of Norway. |
Eirik Ubøe Chief Financial Officer | |
Mr. Uboe joined DHT in 2005 as Chief Financial Officer. Mr. Ubøe has been involved in international accounting and finance for more than 20 years including as finance director of the Schibsted Group and a vice president in the corporate finance and ship finance departments of various predecessors to JPMorgan Chase. Mr. Ubøe holds an MBA from the University of Michigan's Ross School of Business and a Bachelor in Business Administration from the University of Oregon. Mr. Ubøe is a citizen of Norway. |
BOARD OF DIRECTORS
Erik A. Lind Class II Director and Chairman | |
Mr. Erik A. Lind has been Chief Executive of Tufton Oceanic and Managing Director of Tufton Oceanic Ltd. since 2004. Tufton Oceanic is a Fund Management firm for the Maritime, Energy related and the wider global transportation and infrastructure sectors. Mr. Lind has more than 30 years experience in corporate banking, global shipping and specialized and structured asset financing. From 1995 to 2001, Mr. Lind served as Executive Vice President and a member of the Executive Management Committee at IM Skaugen ASA, a Norwegian public shipping and logistics company engaged in the transportation of petrochemical gases, LPG and organic chemicals as well as crude oil lightering. Mr. Lind has also held senior and executive positions with Manufacturers Hanover Trust Company, Oslobanken and GATX Capital. He has been actively involved in corporate recapitalization, financial restructurings, investments, acquisitions and joint venture investments. In addition to his board of directors positions within the Tufton Oceanic group of companies, Mr. Lind currently serves on the advisory board of A.M. Nomikos, a Greek ship-owning company, and on the boards of directors of Alislami Oceanic Shipping Company I and II, investment companies based in the Jebel Ali Free Zone and Cayman Islands, respectively, KFH Oceanic Portfolio Company, a ship investment company based in the Cayman Islands, Frilin AS, a Norwegian private investment company, and Christiania Capital Partners, a private financial advisory and consulting firm based in Norway. Mr. Lind is a resident of the United Kingdom and a citizen of Norway. |
Robert N. Cowen Class I Director | |
Mr. Robert N. Cowen has over 25 years of senior level executive experience in the shipping industry. Since February of 2010, he has served as a Managing Director of Lincoln Vale LLC, an alternative investment management firm with a focus on investing in dry bulk shipping. He is also active as a consultant to investors in tankers and dry bulk shipping. From February 2007 to December 2007 he served as Chief Executive Officer of OceanFreight, Inc., a dry bulk shipping start-up company that went public in April of that year. From October 2005 to December 2006, Mr. Cowen was a partner in the New York office of the Washington, D.C.-based Venable LLP law firm where he focused on maritime related legal issues. Prior to that, Mr. Cowen worked for 25 years at Overseas Shipholding Group, Inc. where he served as Chief Operating Officer from 1999 until 2005, and as a Director (from 1989 to 2005) and Senior Vice President (from 1993 until 2005). Mr. Cowen holds an A.B. degree from Cornell University and a J.D. degree from the Cornell Law School.
|
Einar Michael Steimler Class I Director | |
Mr. Einar Michael Steimler serves as chairman of Tanker (UK) Agencies, the commercial agent to Tankers International, managers of the world's largest VLCC pool. He was instrumental in the formation of Tanker (UK) Agencies in 2000 and served as its CEO until end 2007. Since 1998, Mr. Steimler has served as a Director of Euronav. From 1999 to 2003, he also served as a Director of EXMAR, a CMB Group company. During his long shipping career, he has been involved in both sale and purchase and chartering brokerage in the tanker, gas and chemical sectors and was a founder of Stemoco, a successful ship brokerage firm that was sold in 1994. He graduated from the Norwegian School of Business Management in 1973 with a degree in Economics. Mr. Steimler is a resident of the United Kingdom and a citizen of Norway |
Randee Day Class II Director | |
Ms. Randee Day has been a President and Chief Executive of Day & Partners, Inc., a financial advisory and consulting firm focused on the maritime, energy and cruise industries with a diversified client base consisting of shipping companies, commercial banks and government agencies, since September 2010 and from 1985 to 2004. From April 2010 to September 2010, Ms Day served as Chief Executive Officer of DHT Holdings, Inc. From 2004 to March 2010, Ms. Day was a Managing Director and head of Maritime Investment Banking at Seabury Transportation Holdings LLC, a New York based advisory and investment bank specializing in the transportation industry. Ms. Day has more than 25 years of specialized international financial experience in the marine and energy sectors. From 1979 to 1985, Ms. Day served as the head of J.P. Morgan's Marine Transportation and Finance department in New York, where she was responsible for managing a loan portfolio and overseeing relationships with the bank's shipping clients in the Western Hemisphere and the Far East. She also served in the London offices of J.P. Morgan, Continental Illinois National Bank & Trust and Bank of America. Since 2001, Ms. Day has served as a Director and Chairperson of the audit committee of TBS International plc. |
Rolf Wikborg Class III Director | |
Mr. Rolf A. Wikborg is Managing Director of AMA Norway A/S and a director of AMA Capital Partners in New York, a maritime merchant banking group involved in mergers and acquisitions, restructurings and financial engineering in the shipping, offshore and cruise sector. Mr. Wikborg has extensive experience arranging operating and financial leases for operators in the maritime field and recently has been active arranging mergers and acquisitions. Prior to founding the AMA group in New York in 1987, Mr. Wikborg was a Managing Director at Fearnleys, Mexico, for two years after having worked in the Project Department of Fearnleys, an Oslo based ship-broker. Mr. Wikborg holds a Bachelor of Science in Management Sciences from the University of Manchester, England. Mr. Wikborg is an officer in the Royal Norwegian Navy and is a citizen and resident of Norway. |
Fleet
Vessel | Vessel Type | Charter Expiry | Commercial Pool | Trade | Built | DWT | Class | Flag | Hull Type |
DHT EAGLE | VLCC | May 2013 | CRUDE | 2002 | 309,064 | DNV | Marshall Islands | Double Hull | |
DHT PHOENIX | VLCC | Tankers International | CRUDE | 1999 | 307,000 | Lloyd's Register | Marshall Islands | Double Hull | |
DHT ANN | VLCC | April 2013 | Tankers International | CRUDE | 2001 | 309,327 | Lloyd's Register | Marshall Islands | Double Hull |
DHT CHRIS | VLCC | October 2012 | Tankers International | CRUDE | 2001 | 309,285 | Lloyd's Register | Marshall Islands | Double Hull |
DHT REGAL | VLCC | April 2012 | Tankers International | CRUDE | 1997 | 309,966 | ABS | Marshall Islands | Double Hull |
VENTURE SPIRIT | VLCC | Tankers International | CRUDE | 2003 | 298,287 | BV | Hong Kong | Double Hull | |
OVERSEAS NEWCASTLE | SUEZMAX | December 2014 | CRUDE | 2001 | 164,626 | ABS | Marshall Islands | Double Hull | |
OVERSEAS LONDON | SUEZMAX | January 2018 | CRUDE | 2000 | 152,923 | DNV | Marshall Islands | Double Hull | |
OVERSEAS CATHY | AFRAMAX | January 2013 | Aframax International | CRUDE | 2004 | 112,028 | ABS | Marshall Islands | Double Hull |
OVERSEAS SOPHIE | AFRAMAX | July 2012 | Aframax International | CRUDE | 2003 | 112,045 | ABS | Marshall Islands | Double Hull |
OVERSEAS ANIA | AFRAMAX | April 2012 | Aframax International | CRUDE | 1994 | 94,848 | ABS | Marshall Islands | Double Hull |
OVERSEAS REBECCA | AFRAMAX | April 2012 | Aframax International | CRUDE | 1994 | 94,873 | ABS | Marshall Islands | Double Hull |
2011 News Releases
Financial Reports
Dividend Information
Period | Record date | Payable date | Total Distribution | Ordinary Dividend | Non-dividend Distribution |
Q3 2011 | Nov 8 2011 | Nov 16 2011 | $0.03 | ||
Q2 2011 | Jul 18 2011 | Aug 4 2011 | $0.10 | ||
Q1 2011 | Apr 18 2011 | May 9 2011 | $0.10 | ||
Q4 2010 | Feb 4 2011 | Feb 11 2011 | $0.10 | ||
Q3 2010 | Nov 11 2010 | Nov 22 2010 | $0.10 | $0.10 | |
Q2 2010 | Sep 9 2010 | Sep 17 2010 | $0.10 | $0.10 | |
Q1 2010 | May 31 2010 | Jun 8 2010 | $0.10 | $0.10 | |
Q4 2009 | |||||
Q3 2009 | |||||
Q2 2009 | |||||
Q1 2009 | Jun 3 2009 | Jun 16 2009 | $0.25 | $0.0548 | $0.1952 |
Q4 2008 | Feb 26 2009 | Mar 05 2009 | $0.30 | $0.0657 | $0.2343 |
Q3 2008 | Dec 2 2008 | Dec 11 2008 | $0.30 | $0.2037 | $0.0963 |
Q2 2008 | Sep 15 2008 | Sep 24 2008 | $0.25 | $0.1697 | $0.0803 |
Q1 2008 | May 30 2008 | June 11 2008 | $0.25 | $0.1697 | $0.0803 |
Q4 2007 | Feb 26 2008 | Mar 11 2008 | $0.35 | $0.2376 | $0.1124 |
Q3 2007 | Dec 03 2007 | Dec 12 2007 | $0.37 | $0.0943 | $0.2757 |
Q2 2007 | Sep 12 2007 | Sep 21 2007 | $0.39 | $0.0994 | $0.2906 |
Q1 2007 | May 29 2007 | Jun 12 2007 | $0.38 | $0.0969 | $0.2831 |
Q4 2006 | Feb 22 2007 | Mar 06 2007 | $0.44 | $0.1112 | $0.3278 |
Q3 2006 | Nov 27 2006 | Dec 06 2006 | $0.42 | $0.1642 | $0.2558 |
Q2 2006 | Aug 18 2006 | Sep 04 2006 | $0.36 | $0.1407 | $0.2193 |
Q1 2006 | Jun 01 2006 | Jun 16 2006 | $0.53 | $0.2072 | $0.3228 |
Q4 2005 | Mar 10 2006 | Mar 24 2006 | $0.43 | $0.3757 | $0.0543 |
SEC Filings
Filing Date | Form | Description | Filing Group | Downloads | ||
Nov 03 2011 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | |||
Oct 13 2011 | EFFECT | EFFECT | Other | |||
Oct 03 2011 | F-3/A | Amendment to a previously filed F-3 | Registration Statements | |||
Sep 02 2011 | F-3 | Registration statement for certain foreign private issuers offered for certain transactions | Registration Statements | |||
Aug 05 2011 | CB/A | CB/A | Other | |||
Jul 29 2011 | CB/A | CB/A | Other | |||
Jul 21 2011 | CB/A | CB/A | Other | |||
Jul 14 2011 | CB/A | CB/A | Other | |||
Jul 14 2011 | 6-K | Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act | Current Reports | |||
Jul 06 2011 | F-X | F-X | Other |
CHARTS
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