10%-Yielding DHT Holdings Inc Stock Trading at Highest Level Since 2011
March 18, 2026
Strong Results & a Reliable High-Yield Dividend
Oil prices may be down but demand for crude remains robust. In 2025, crude consumption increased by 1.1 million barrels per day (bpd). It is forecast to increase by 1.2 million bpd in 2026 and a further 1.3 million bpd in 2027. (Source: “Short-Term Energy Outlook,” U.S. Energy Information Administration, February 10, 2026.)
Increased demand for oil and gas is, of course, great news for the energy industry, but in particular for midstream oil and gas stocks like DHT Holdings Inc (NYSE:DHT). After all, everyone uses oil byproducts in some capacity or another each day, whether its gasoline, heating fuels, plastics, fertilizer, pharmaceuticals, lipstick, deodorant, asphalt, medical devices, etc.
But not every country is floating on oil and gas like the U.S. and Canada. This means that most countries need to reply on midstream companies to import crude oil and gas. And that’s where DHT Holdings comes in.
About DHT Holdings Inc
Hamilton-Bermuda-based DHT Holdings is an independent crude oil tanker company. Its fleet consists of 25 oil tankers in the very large crude carrier (VLCC) segment. Each of these ocean behemoths can transport two million barrels of oil. (Source: “Our Business,” DHT Holdings Inc, last accessed February 18, 2026.)
All of the company’s vessels are 100%-owned, with most in the spot market. On February 18, DHT Holdings announced that it had secured a one-year time charter agreement at $90,000 per day for its VLCC DHT Opal. (Source:” DHT Holdings, Inc. secures one-year time charter for DHT Opal,” DHT Holdings Inc, February 18, 2026.)
Its fleet is always improving, too. In late January, DHT Holdings entered into an agreement to sell an older ship, built in 2007, for $51.5 million. The company expects to record a gain of $34.2 million from the sale. (Source: “DHT Holdings, Inc. announces sale of DHT Bauhinia,” DHT Holdings Inc, January 30, 2026.)
And in early January, the company announced the delivery of a VLCC newbuild. The vessel, named DHT Antelope, is entering the spot market. It is the first of four VLCC newbuildings that DHT will have enter its fleet during the first half of 2026. Two are scheduled for delivery in March and one in June. (Source: “DHT Holdings, Inc. announces delivery of VLCC newbuilding,” DHT Holdings Inc, January 2, 2026.)
Q4 Earnings Beat
For the fourth quarter ended December 31, 2025, DHT Holdings announced that shipping revenue increased 10% on an annual basis and 34% on a sequential basis to $143.9 million. Adjusted net revenue jumped 38% year over year and advanced 49% on a sequential basis. (Source: “DHT Holdings, Inc. Fourth Quarter 2025 Results,” DHT Holdings Inc, February 4, 2026.)
During the quarter, the company achieved combined time charter equivalent (TCE) earnings of $60,300 per day. This was comprised of $69,500 per day for its VLCCs operating in the spot market and $49,400 per day for the VLCCs on time charter.
Everything is relative. To put that TCE rate into context, we need to know that DHT Holdings has improved its cash breakeven levels for the fleet operating in the spot market to around $18,300.
The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 8.1% sequentially to $72.9 million.
Its fourth-quarter net income advanced 57% year over year and 65% quarter over quarter to $95.3 million. Net profit improved to $66.1 million, or $0.41 per share.
For the first quarter of 2026, by February 4, 2026 (the day DHT Holdings announced its financial results), 76% of the available VLCC spot days had been booked at an average rate of $78,900 per day. Of that, 86% of the available VLCC days, combined spot and time charter days, were booked at an average rate of $62,300 per day.
Its 64th Consecutive Quarterly Dividend
DHT Holdings is home to a reliable high-yield distribution. Its dividend policy is to pay out 100% of ordinary net income. And, thanks to fluctuating time charter equivalent (TCE) rates, the payout will vary from quarter to quarter.
Right now, DHT Holdings is firing on all cylinders. In the fourth quarter, it paid a dividend of $0.41 per share. That’s up 127% from the $0.18 paid in the third quarter of 2025 and up 141% from the $0.17 the company paid its investors in the fourth quarter of 2024. (Source: “Dividend Information,” DHT Holdings Inc, last accessed February 18, 2026.)
This marks DHT stock’s 64th consecutive quarterly cash dividend.
DHT Stock Crushing S&P 500
Thanks to robust demand for its vessels and increased premiums tied to geopolitical tensions, DHT Holdings is generating strong revenue and earnings. And this is helping energize its stock.
On March 2, DHT stock hit a new 52-week intraday high of $20.55, its highest trading level since 2011.
As of this March 3 writing, the stock is trumping the S&P 500, up:
- 40% over the last month
- 63% year to date
- 100% year over year
Chart courtesy of StockCharts.com
The Lowdown on DHT Holdings Inc
DHT Holdings is a leading independent crude oil tanker company that is reporting strong financial results and is expanding its fleet. It recently increased its quarterly distribution by 141% on an annual basis. Moreover, the company has not missed a payout for 64 consecutive quarters and counting. DHT stock is trading at its highest levels since 2011.
