DHT Holdings, Inc. announced its financial results for the fourth quarter ended December 31, 2024, reporting revenues on a time charter equivalent (TCE) basis of $85.5 million. The company achieved a net income of $54.7 million, or $0.34 per share. After adjusting for a non-cash reversal of prior impairment charges, net income was $26.8 million, or $0.17 per share. Adjusted EBITDA for the quarter was $60.6 million.
The average combined TCE for the fleet in Q4 2024 was $38,800 per day, reflecting the market conditions during the period. For the full year 2024, DHT Holdings reported a net income of $181.5 million, or $1.12 per share, with an adjusted net income of $153.6 million, or $0.95 per share. These results highlight the company's overall profitability for the year.
In conjunction with its earnings release, DHT Holdings declared a cash dividend of $0.17 per share. This represents a change from the previous quarter's dividend of $0.22 per share, aligning the payout with the company's ordinary net income for the period. The adjustment reflects the company's policy of distributing 100% of ordinary net income as quarterly cash dividends.
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