Scorpio Tankers Advances Share Buyback Program

Scorpio Tankers (STNG) has released an update.

Scorpio Tankers Inc. has actively pursued its share repurchase program, buying back over 3.8 million shares since April at an average price of around $74 per share, demonstrating confidence in the company’s financial health. With $225 million still available for repurchases, the company continues to leverage its $400 million authorization to enhance shareholder value. Additionally, Scorpio Tankers, a major transporter of petroleum products, plans to sell two of its MR tankers later in the year as part of its fleet optimization strategy.

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