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HAMILTON, BERMUDA - DHT Holdings, Inc. (NYSE:DHT), a shipping company with a market capitalization of $1.83 billion, announced Monday the appointment of Svein Moxnes Harfjeld to its Board of Directors, effective immediately. Harfjeld will continue to serve in his current role as President and Chief Executive Officer, a position he has held since 2010.
Erik A. Lind, Chairman of the Board, cited Harfjeld's three decades of experience in the global shipping industry as bringing "additional strategic insight and operational expertise" to the board.
DHT Holdings operates a fleet of crude oil tankers in the VLCC (Very Large Crude Carrier) segment, with management companies based in Monaco, Norway, Singapore, and India. The company describes its business approach as focused on operations, customer service, and maintaining a capital structure designed to withstand business cycles. InvestingPro data shows the company's strong financial position, with an attractive P/E ratio of 9.67 and an impressive dividend yield of 8.41%, maintaining dividend payments for 18 consecutive years.
Harfjeld, a Norwegian citizen who resides in Monaco, has been with DHT for 15 years. According to the company's press release statement, his contributions have been "instrumental in shaping DHT's development, growth, and commitment to shareholder value."
The appointment maintains what the company describes as "a sound balance of independence and executive experience" on its board, aligned with its corporate governance principles.
In other recent news, DHT Holdings reported its Q2 2025 earnings, showcasing a mixed financial performance. The company exceeded analysts' expectations with an EPS of $0.35, which was a 29.63% surprise over the projected $0.27. However, DHT Holdings fell short on revenue, reporting $92.8 million against the anticipated $94.38 million, a miss of 1.67%. Despite these results, the company's stock experienced a minor decline in after-hours trading. These developments highlight the ongoing challenges and successes DHT Holdings faces in its financial operations. The earnings report underscores the company's ability to surpass profit expectations, although revenue generation remains a concern. Investors and analysts will likely continue to monitor DHT Holdings' financial strategies and market performance closely.
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