Scorpio Tankers Inc. (STNG) to Issue Quarterly Dividend of $0.01 on September 29th
Scorpio Tankers Inc. (NASDAQ:STNG) announced a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Shareholders of record on Monday, September 25th will be given a dividend of 0.01 per share by the shipping company on Friday, September 29th. This represents a $0.04 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, September 22nd.
Shares of Scorpio Tankers (STNG) opened at 3.50 on Friday. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $5.01. The firm’s 50-day moving average is $3.59 and its 200 day moving average is $3.92. The stock’s market capitalization is $569.49 million.
Several equities analysts recently weighed in on STNG shares. Seaport Global Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. Credit Suisse Group set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. BidaskClub lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.44.
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Scorpio Tankers Company Profile
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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