May. 2 at 12:06 AM
$DHT Based on the business update, I expect the Q1 dividend to be around
$0.65 per share. If the remaining half of Q2 spot days get booked at an average rate of
$115K per day, the Q2 dividend should be around
$1.10 per share. And if this level can be sustained, a modest P/E of 8 would put us at
$35. Pay attention to the outlook section in the report on Tuesday, it will give further clues as to where Q2 is heading.