Scorpio Tankers Inc. (NYSE:STNG) Plans Quarterly Dividend of $0.40

Key Points

• Scorpio Tankers Inc. has declared a quarterly dividend of $0.40 per share, with an annualized yield of 3.5%, scheduled for payment on August 29th to investors of record as of August 13th.
• The company reported an EPS of $1.41 for the latest quarter, exceeding analysts' expectations, although revenue declined by 39.5% year-over-year.
• Institutional investors increased their holdings in Scorpio Tankers significantly during the second quarter, indicating growing confidence in the company's performance.

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) announced a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Wednesday, August 13th will be paid a dividend of 0.40 per share by the shipping company on Friday, August 29th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 13th.

Scorpio Tankers has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $6.30 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.4%.

Scorpio Tankers Stock Performance

NYSE:STNG traded up $0.39 during mid-day trading on Monday, hitting $47.44. 272,623 shares of the company's stock traded hands, compared to its average volume of 1,058,784. The firm has a 50 day moving average of $42.39 and a two-hundred day moving average of $41.34. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $75.69. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 6.46 and a beta of -0.03. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.38. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. The firm had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. During the same quarter in the prior year, the company earned $3.60 EPS. The firm's revenue for the quarter was down 39.5% compared to the same quarter last year. On average, equities analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently modified their holdings of the company. Focus Partners Advisor Solutions LLC bought a new stake in shares of Scorpio Tankers in the 2nd quarter worth approximately $227,000. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 10.4% during the 2nd quarter. International Assets Investment Management LLC now owns 52,949 shares of the shipping company's stock worth $2,072,000 after buying an additional 4,969 shares during the period. RFG Advisory LLC bought a new position in shares of Scorpio Tankers during the 2nd quarter worth approximately $233,000. CWM LLC lifted its position in shares of Scorpio Tankers by 478.0% during the 2nd quarter. CWM LLC now owns 28,661 shares of the shipping company's stock worth $1,122,000 after buying an additional 23,702 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Scorpio Tankers by 105.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,908 shares of the shipping company's stock worth $466,000 after buying an additional 6,116 shares during the period. Institutional investors own 54.64% of the company's stock.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.