DHT Holdings, Inc. Business Update; Estimates Discretionary Cash Flow After Dividends To Be About $76M For 2024
Portfolio Pulse from Benzinga Newsdesk
DHT Holdings, Inc. (NYSE:DHT) provided a business update estimating its P&L break-even level at $27,500 per day for 2024. The cash break-even level has improved to $18,600 per day for the fleet and $13,800 for the spot market fleet. This was achieved by pre-paying the Nordea credit facility installments for 2024 using the ING revolving credit facility. DHT commits to paying 100% of net income in dividends and expects discretionary cash flow after dividends to be about $76 million for 2024, which can be used for fleet investments or corporate purposes. The CEO expressed a positive market outlook and a focus on rewarding shareholders, maintaining high governance standards, and executing a strategic market approach.
January 17, 2024 | 9:17 pm
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DHT Holdings forecasts a lower P&L break-even point and improved cash break-even levels for 2024, with an estimated $76 million in discretionary cash flow after dividends. The company emphasizes shareholder returns and strategic investments.
The positive business update from DHT Holdings, including lower break-even levels and a significant estimated discretionary cash flow, is likely to be viewed favorably by investors. The commitment to dividends and strategic investments aligns with shareholder interests, potentially leading to a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100