DnB Asset Management Reduces Holdings in Scorpio Tankers Inc.

Credits: REUTERS/Yoruk Isik

In the second quarter of this year, DnB Asset Management AS reduced its holdings in Scorpio Tankers Inc. by 22.7%, as stated in their recent 13F filing with the Securities and Exchange Commission (SEC), reports Best Stocks.

The asset management firm sold approximately 51,230 shares of Scorpio Tankers’ stock during this period, resulting in a decrease in their ownership to 174,714 shares. As per their most recent SEC filing, these shares were valued at $8,252,000.

Quarterly dividend on common stock

Scorpio Tankers Inc. is a shipping company that operates globally and provides transportation services for refined petroleum products. With a fleet comprising both MR and LR2 vessels, the company serves its customers across the globe through time charters, bareboat charters, and spot charters.

Furthermore, Scorpio Tankers recently announced a quarterly dividend on its common stock. This dividend was paid to shareholders on September 15th, following a record date of August 15th. Shareholders who were registered before August 15th received a dividend of $0.25 per share. Consequently, based on an annualized basis calculation, this amounts to a dividend payout of $1.00 per share.

Taking into account the company’s latest market value and dividend payout ratio of 6.97%, investors can expect an annual dividend yield of approximately 1.91% from Scorpio Tankers.

As always, it is advisable for investors or potential investors to conduct thorough research and analysis before making any financial decisions regarding specific stocks.

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Source: Best Stocks


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