Hafnia Q4 Profit Rises 38%, Declares $87.7M Dividend on 80% Payout Ratio
Hafnia reported Q4 2025 net profit of $109.7 million ($0.22/share), up from $79.6 million last year, and TCE earnings rose to $259 million. The company declared $87.7 million in Q4 dividends (80% payout ratio) and sold older tonnage while forecasting fewer drydock off-hire days in 2026.
1. Q4 2025 Financial Results
Hafnia posted net profit of $109.7 million ($0.22 per share) in the fourth quarter of 2025, up from $79.6 million ($0.16 per share) in Q4 2024. Time charter equivalent earnings rose to $259 million from $233.6 million despite 550 off-hire days due to scheduled drydocking.
2. Fleet Renewal and Off-Hire Outlook
The company completed the sale of a 2013-built MR vessel and took delivery of the Ecomar Gironde newbuild as part of fleet renewal. CEO Mikael Skov expects strong drydocking in 2026 but forecasts fewer off-hire days compared to the 550 recorded in Q4 2025.
3. Dividend Payout and Shareholder Returns
Hafnia affirmed an 80% payout ratio for Q4 with $87.7 million in dividends ($0.1762 per share) and total 2025 dividends of $0.5457 per share, implying about a 10% yield. Fee-based earnings fell to $29.8 million from $35.2 million year-over-year, but core TCE gains underpin the company’s cash return strategy.