Scorpio Tankers (STNG) has released an update.
Scorpio Tankers Inc. has actively repurchased over 1.39 million of its common shares at an average of $78.16 per share as part of its 2023 Securities Repurchase Program, with $140.7 million still available for further buybacks. The company, a major player in marine transportation of petroleum products, is also streamlining its fleet by selling five MR tankers, expected to close deals in the third quarter of 2024. This move underscores Scorpio Tankers’ strategy for capital allocation and operational optimization amid the dynamic economic landscape.
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