DHT Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2025, reporting revenues on a time charter equivalent (TCE) basis of $79.337 million. The company achieved a net income of $44.051 million, or $0.27 per share. After adjusting for a $19.795 million gain from the sale of the DHT Scandinavia, adjusted EPS was $0.15. Adjusted EBITDA for the quarter was $56.370 million.
The average fleet TCE for Q1 2025 was $38,200 per day, with spot market VLCCs earning $36,300 per day and time-chartered vessels earning $42,700 per day. This performance reflects the company's operational efficiency in the current market environment. Total liquidity at the end of Q1 2025 stood at $276.7 million, including $80.5 million in cash and $196.2 million in available revolving credit facilities.
In line with its capital allocation policy, DHT Holdings declared a cash dividend of $0.24 per share. This represents an increase from the $0.17 per share dividend declared for the previous quarter, demonstrating the company's commitment to returning a significant portion of its ordinary net income to shareholders.
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