DHT Holdings Changes Dividend Policy

zoom Crude oil tanker company DHT Holdings, Inc. is pursuing a new policy regarding dividend and capital allocation, under which it intends to return at least 60% of its ordinary net income, adjusted for extraordinary items, to shareholders. The switch in the payout policy comes amid extremely favorable market for Very Large Crude Carriers (VLCCs). Furthermore, DHT said it would use a significant amount of surplus cash flow after returning such capital to shareholders to deliver its balance sheet. DHT plans to commence its new capital allocation policy starting with the second quarter of 2015. The company owns a fleet of crude oil tankers in the VLCC, Suezmax and Aframax segments, operating through its integrated management companies in Oslo, Norway and Singapore.