DFDS has increased its distribution to shareholders and launched a new share buyback scheme thanks to higher earnings in the second quarter.

The Danish group reported pre-tax profit of DKK 495m ($78.27m), compared to DKK 443m in the corresponding quarter of 2016.

DFDS plans to raise its dividend for August from DKK 5 per share to DKK 7.

Meanwhile, a new share buyback of up to DKK 300m will start today and is to be completed no later than 6 February 2018.