NYSE:STNGOil and Gas
Why Scorpio Tankers (STNG) Is Up 10.1% After Pivot To Net Cash And Higher Dividend
In recent months, Scorpio Tankers reported strong fourth-quarter results, with net income rising to US$128.1 million and daily TCE rates increasing year over year, while shifting its balance sheet from US$3.10 billions in net debt in 2021 to roughly US$334 million in net cash by early 2026.
The company complemented this financial improvement with a higher quarterly dividend of US$0.45 per share and continued investment in scrubber-fitted vessels, pointing to a focus on cash returns and...