What was the purpose of DHT's share buyback?

The share buyback was aimed at enhancing shareholder value and reducing the number of outstanding shares.

When did DHT conduct the share buyback?

The share buyback took place from May 17, 2021, to June 7, 2021.

DHT Holdings, Inc. announces share buyback

DHT Holdings, Inc. (NYSE:DHT) has repurchased 3,721,841 shares, representing 2.2% of its outstanding shares, at an average price of $6.025.

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Rhea-AI Sentiment

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Rhea-AI Summary

DHT Holdings, Inc. (NYSE:DHT) has repurchased 3,721,841 shares, representing 2.2% of its outstanding shares, at an average price of $6.025. The buyback occurred between May 17, 2021, and June 7, 2021, and the shares have been retired post-purchase. This move reflects DHT's commitment to enhancing shareholder value through proactive capital management.

Positive

Share repurchase of 3,721,841 shares indicates strong confidence in stock value.
Retiring shares may enhance earnings per share (EPS) moving forward.

Negative

None.

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News Market Reaction – DHT

The recorded move for DHT in the trading session of this news was +4.62%.

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07/01/2021 - 04:30 PM

HAMILTON, BERMUDA, July 1, 2021 – DHT Holdings, Inc. (NYSE:DHT) (“DHT”) announces that the Company has purchased 3,721,841 of its own shares — equivalent to 2.2% of its outstanding shares — at an average price of $6.025 in the period from May 17, 2021 to June 7, 2021. The shares 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, Singapore and Norway. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships, prudent capital structure to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet, a counter cyclical philosophy with respect to investments, employment of our fleet and capital allocation and a transparent corporate structure maintaining a high level of integrity and good governance. For further information: www.dhtankers.com.

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

FAQ

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How many shares did DHT repurchase and at what average price?

DHT repurchased 3,721,841 shares at an average price of $6.025.

What percentage of its outstanding shares did DHT buy back?

DHT bought back 2.2% of its outstanding shares.

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DHT Holdings, Inc. announces share buyback