DHT buys back $23 million of convertibles at 90.4 in fourth quarter

By Susanna Moon

Chicago, Jan. 9 – DHT Holdings, Inc. said it repurchased $23 million of its convertible senior notes in the open market during the fourth quarter at an average price of 90.4%.

At the current conversion price of $6.657, DHT has lowered the potential dilution for the convertible notes by 4,055,880 shares, or about 4% based on the current outstanding share count, according to a company notice.

The company’s stock (NYSE:DHT) closed at $4.11 on Jan. 6.

The company said it repurchased $27 million at an average price of 91.7% including repurchases made in the first half of 2016.

DHT is a Hamilton, Bermuda, operator of crude oil tankers.

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