Scorpio Tankers Inc. (NYSE:STNG) Raises Dividend to $0.75 Per Share

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.75 per share by the shipping company on Friday, December 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a 66.7% increase from Scorpio Tankers’s previous quarterly dividend of $0.45.

Scorpio Tankers has raised its dividend payment by an average of 0.3% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Scorpio Tankers has a dividend payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Scorpio Tankers to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.4%.

Scorpio Tankers Price Performance

NYSE STNG opened at $80.40 on Wednesday. Scorpio Tankers has a 1 year low of $48.93 and a 1 year high of $95.60. The company has a fifty day simple moving average of $84.44 and a 200 day simple moving average of $77.65. The company has a current ratio of 20.65, a quick ratio of 20.59 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.05 billion, a P/E ratio of 4.26, a P/E/G ratio of 1.63 and a beta of -0.10.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, October 28th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.06 by $0.43. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. The firm had revenue of $266.47 million for the quarter, compared to the consensus estimate of $243.98 million. During the same quarter last year, the firm posted $1.49 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Scorpio Tankers will post 15.59 EPS for the current year.

Insider Activity

In other Scorpio Tankers news, CEO Emanuele Lauro sold 234,637 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $92.88, for a total value of $21,793,084.56. Following the completion of the transaction, the chief executive officer owned 913,162 shares of the company’s stock, valued at $84,814,486.56. This represents a 20.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Robert Bugbee sold 231,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $86.19, for a total value of $19,978,755.81. Following the completion of the sale, the president owned 665,288 shares of the company’s stock, valued at $57,341,172.72. This represents a 25.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 654,770 shares of company stock valued at $58,404,395. Corporate insiders own 7.34% of the company’s stock.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Scorpio Tankers by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after acquiring an additional 122,874 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Scorpio Tankers by 9.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 388,522 shares of the shipping company’s stock worth $33,331,000 after buying an additional 32,484 shares during the period. Bank of America Corp DE boosted its stake in Scorpio Tankers by 9.3% in the 1st quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock valued at $18,244,000 after buying an additional 20,878 shares in the last quarter. Empowered Funds LLC grew its position in Scorpio Tankers by 20.9% in the first quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock valued at $17,959,000 after acquiring an additional 41,516 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Scorpio Tankers by 9.8% during the first quarter. Bank of New York Mellon Corp now owns 132,975 shares of the shipping company’s stock valued at $9,928,000 after acquiring an additional 11,829 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc. is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets. The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes. Scorpio Tankers was founded in 2009 and is headquartered in Monaco.