Bermudian-based DHT Holdings Inc, the crude oil tanker company, has reported a third-quarter profit after tax of $31 million.

That compares with a profit after tax of $7.5 million in the prior-year quarter.

The company achieved average combined time-charter equivalent earnings of $42,500 per day during the quarter, comprised of $35,500 per day for the company’s very large crude carriers on time charter and $44,700 per day for the VLCCs operating in the spot market.

The company declared a cash dividend of $0.19 per share of outstanding common stock, payable on November 28 to shareholders of record as of November 21.

This marks the 55th consecutive quarterly cash dividend and is in line with the company’s capital allocation policy to pay out 100 per cent of net income, DHT said.

During the quarter, the company took delivery of DHT Appaloosa, the 2018 VLCC acquired for $94.5 million.