Shares of Torm PLC, a Danish product tanker company, surged 8.76% in pre-market trading on Thursday. This rally came after the company reported robust financial results for the fiscal year 2024 and announced a significant dividend distribution to shareholders.

For the year ended December 31, 2024, Torm PLC posted time charter equivalent (TCE) earnings of $1.13 billion, an increase of 5% from the previous year. The company's EBITDA stood at an impressive $851 million, including unrealized gains on financial instruments. Most notably, Torm PLC recorded a net profit of $612 million for 2024, driven by increased ton-mile demand and a favorable supply-demand balance in the product tanker market.

In recognition of the strong performance, Torm PLC's Board of Directors approved an interim dividend of $0.60 per share for the fourth quarter of 2024, corresponding to a total dividend payment of $58.4 million. The distribution reflects the company's policy of paying out 75% of net profit as dividends.

However, the company provided a cautious outlook for 2025, citing unpredictable geopolitical changes that may impact results. Torm PLC expects TCE earnings to range between $650 million and $950 million, and EBITDA to fall within the range of $350 million to $650 million for the full year 2025.