DHT Holdings, Inc. (NYSE:DHT) declared 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 2.13%. The ex-dividend date of this dividend is Tuesday, August 22nd.

DHT Holdings has raised its dividend by an average of 107.0% per year over the last three years and has increased its dividend every year for the last 2 years. DHT Holdings has a dividend payout ratio of 177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect DHT Holdings to earn $0.34 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 94.1%.

Shares of DHT Holdings (NYSE DHT) traded down 5.54% during trading on Wednesday, hitting $3.75. 1,487,706 shares of the stock traded hands. The company has a 50-day moving average of $4.13 and a 200-day moving average of $4.48. The firm’s market cap is $354.83 million. DHT Holdings has a 52 week low of $3.29 and a 52 week high of $5.47.

DHT Holdings (NYSE:DHT) last released its quarterly earnings results on Tuesday, August 8th. The shipping company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $59.63 million during the quarter, compared to analyst estimates of $58.47 million. DHT Holdings had a positive return on equity of 10.84% and a negative net margin of 2.47%. On average, analysts forecast that DHT Holdings will post $0.18 EPS for the current fiscal year.

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A number of equities research analysts recently commented on the company. Maxim Group set a $7.00 price target on DHT Holdings and gave the company a “buy” rating in a research report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price target on shares of DHT Holdings in a research report on Monday, April 24th. Zacks Investment Research lowered DHT Holdings from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. TheStreet downgraded DHT Holdings from a “c” rating to a “d+” rating in a research note on Monday, May 8th. Finally, ValuEngine downgraded DHT Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.75.

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.

Dividend History for DHT Holdings (NYSE:DHT)

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