Earnings ·
Reports $224.3M Q3 net income and raises quarterly dividend to $0.75 per share
STNGScorpio Tankers Inc.
Scorpio Tankers Inc. reported a third-quarter net income of $224.3 million, or $4.91 basic EPS, driven by stronger product tanker rates and gains on vessel sales. Adjusted net income was $127.4 million. The board declared a quarterly cash dividend of $0.75 per share, payable December 4 to record holders as of November 13. The company also announced newbuilding orders for eight LR2s, five MRs, and four VLCCs, alongside the sale of three older vessels totaling $180.5 million. Scorpio Tankers operates a fleet of product tankers and crude carriers in the global shipping industry.