Hafnia Limited (HAFN), which owns and operates oil product tankers, Wednesday reported profit before tax of $216.79 million for the third quarter, higher than $147.87 million in the same quarter a year ago, primarily helped by increase in revenue.
Net profit increased to $215.64 million or $0.42 per share from $146.94 million or $0.29 per share last year.
Operating profit was $219.01 million, up from $167.19 million a year ago.
Net revenue for the quarter grew to $361.56 million from $310.26 million in the previous year.
Operating revenue from Hafnia vessels and TC vessels was $521.8 million.
Additionally, the company's Board has authorized to initiate a share buyback program of up to $100 million, from December 2, 2024 to January 27, 2025.
Hafnia has declared a quarterly dividend of $0.379 er share. For shares registered in the Euronext VPS Oslo Stock Exchange, dividend will be paid by December 17, with an ex-dividend date of December 5. For shares registered in the Depository Trust Company, the payment of dividend will be by December 12, with an ex-dividend date of December 6.
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