Scorpio Tankers (STNG) Declares $0.40 Dividend
Scorpio Tankers said on February 13, 2024 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Previously, the company paid $0.35 per share.
Shares must be purchased before the ex-div date of March 7, 2024 to qualify for the dividend. Shareholders of record as of March 8, 2024 will receive the payment on March 27, 2024.
At the current share price of $69.52 / share, the stock's dividend yield is 2.30%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.02%, the lowest has been 0.68%, and the highest has been 4.47%. The standard deviation of yields is 0.78 (n=234).
The current dividend yield is 0.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 3.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in Scorpio Tankers. This is an increase of 44 owner(s) or 9.84% in the last quarter. Average portfolio weight of all funds dedicated to STNG is 0.27%, an increase of 19.38%. Total shares owned by institutions increased in the last three months by 2.48% to 34,100K shares. 
The put/call ratio of STNG is 0.61, indicating a bullish outlook.
Analyst Price Forecast Suggests 11.86% Upside
As of January 20, 2024, the average one-year price target for Scorpio Tankers is 77.77. The forecasts range from a low of 68.68 to a high of $89.25. The average price target represents an increase of 11.86% from its latest reported closing price of 69.52.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Scorpio Tankers is 1,152MM, a decrease of 14.11%. The projected annual non-GAAP EPS is 7.20.
What are Other Shareholders Doing?
IWM - iShares Russell 2000 ETF holds 1,148K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 1,192K shares, representing a decrease of 3.89%. The firm increased its portfolio allocation in STNG by 15.40% over the last quarter.
Goldman Sachs Group holds 1,034K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 1,082K shares, representing a decrease of 4.58%. The firm decreased its portfolio allocation in STNG by 74.69% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 996K shares representing 2.03% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 916K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 849K shares, representing an increase of 7.27%. The firm increased its portfolio allocation in STNG by 9.98% over the last quarter.
Lsv Asset Management holds 843K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 90K shares, representing an increase of 89.38%. The firm increased its portfolio allocation in STNG by 892.82% over the last quarter.
Scorpio Tankers Background Information
(This description is provided by the company.)
Scorpio Tankers is a provider of marine transportation of petroleum products worldwide. The Company currently owns or finance leases 109 product tankers (38 LR2 tankers, 12 LR1 tankers, 45 MR tankers and 14 Handymax tankers) with an average age of 3.3 years and time or bareboat charters‐in 13 product tankers (one LR2 tanker, five MR tankers and seven Handymax tankers).
Additional reading:
- Scorpio Tankers Inc. Announces Purchase of Call Options by the President of the Company
- Pool and Spot Market Time Charters Out of the Pool Average Daily TCE Revenue Expected Revenue Days (1) % of Days Average Daily TCE Revenue Expected Revenue Days (1) % of Days LR2 $ 57,000 2,600 68 % $ 30,750 875 100 % MR $ 34,500 4,650 59 % $ 21,700
- Scorpio Tankers Inc. Announces that on February 14, 2024 the Company Will Issue Fourth Quarter 2023 Results and Have a Conference Call
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