The new dividend payment is scheduled for December 4, reaching shareholders of record by the close of business on November 13. At an annualized rate of $3 per share, the payout offers a 3.5% yield based on the company's Tuesday closing price of $85.33. This move signals confidence in the firm's cash flow, marking a significant departure from the 45-cent rate that had been in place since the start of the year.
In section Market Quotes
Scorpio Tankers Hikes Quarterly Dividend by 67 Percent
Investors in Scorpio Tankers are set for a substantial payout increase as the refined petroleum carrier lifts its quarterly dividend to 75 cents per share. This 67% jump from the previous 45-cent distribution follows a period of stable growth for the shipping firm, which last adjusted its shareholder rewards in February.
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