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DHT Holdings, Inc. Reports First Quarter 2011 Results And Declares Quarterly Dividend Of $0.10 Per Share

On March 21, 20110 DHT agreed to acquire a VLCC built 2002 for $67,000,000. As of March 31, 2011 a deposit of $ 6,700,000 for the acquisition of the vessel had been paid. The vessel will be delivered during the second quarter of 2011 and will be named DHT Eagle. The vessel will be employed on a two year time charter at $32,300 net per day. The company will finance the acquisition with cash at hand and bank debt.

Note 6 – Equity Offering

In February 2011, DHT issued a total of 15,425,300 shares of common stock with par value of $0.01 per share for total net proceeds of $67,540,343 after underwriting discount and expenses amounting to $4,187,302.

Note 7 – Stockholders equity and dividend payment
Stockholders' equity:    
    Common stock   Preference stock
Issued at December 31, 2010 48,921,961 0
New shares issued 15,425,300 0
Issued at March 31, 2011 64,347,261 0
Par value $ 0.01 $ 0.01

Numbers of shares authorized for issue at March 31, 2011
  100,000,000   1,000,000

Common stock:

Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.

Preference stock:

Terms and rights of Preference shares will be established by the board when or if such shares would be issued.
Dividend payment:

Dividend payment as of March 31, 2011:
Payment date:   Total payment   Per share
February 11, 2011   $ 4.9 million   $0.10
Total payment as of March 31, 2011:   $ 4.9 million   $0.10

Dividend payment 2010:
Payment date:   Total payment   Per share
June 8, 2010 $ 4.9 million $0.10
September 17, 2010 $ 4.9 million $0.10
November 22, 2010   $ 4.9 million   $0.10
Total payment in 2010:   $ 14.7 million   $0.30

Note 8 - Financial risk management, objectives and policies

Note 9 in the 2010 annual report provides for details of financial risk management objectives and policies.

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