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Stock Market & Financial Investment News

News Breaks
May 30, 2014
09:30 EDTSTNGScorpio Tankers announces agreement to acquire 7.5M shares
Scorpio Tankers announced that it has entered into an agreement whereby the company will purchase from an existing shareholder 7.5M common shares of the company in exchange for the sale to said shareholder of 3.42M common shares the company currently owns in Dorian LPG in a privately negotiated transaction. As a result of the disposal of the 3.42M Dorian shares, the Company will recognize a gain of approximately $11M and its ownership in Dorian will be reduced to 9.4M shares. This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close in June. In addition to the transaction announced today, the company has repurchased 2.76M of its common shares at an average price of $8.89 per share before commissions. As of today, the company has $75.3M remaining on its $100M stock buyback authorization, which was announced on April 28. The Company also announced that it has recently taken delivery of four product tankers under its Newbuilding Program.
News For STNG From The Last 14 Days
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November 14, 2014
05:31 EDTSTNGScorpio Tankers initiated with a Buy at UBS
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November 11, 2014
10:00 EDTSTNGOn The Fly: Analyst Initiation Summary
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07:34 EDTSTNGScorpio Tankers accepts delivery of three vessels
Scorpio Tankers recently took delivery of the STI Sloane, an LR2 product tanker, was delivered from Hyundai Samho Heavy Industries in November 2014. Upon delivery, this vessel began a voyage for 45 days at approximately $30,000 per day; STI Broadway, an LR2 product tanker, was delivered from DSME in November 2014. Upon delivery, this vessel began a voyage for 45 days at approximately $30,000 per day; STI Milwaukee, an MR product tanker, was delivered from Hyundai Mipo Dockyard of South Korea in November 2014. Upon delivery, this vessel began a time charter for up to 120 days at approximately $18,000 per day.
07:33 EDTSTNGScorpio Tankers provides update regarding investment in Dorian LPG
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07:32 EDTSTNGScorpio Tankers raises quarterly dividend by 20% to 12c per share
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06:12 EDTSTNGScorpio Tankers initiated with a Buy at MLV & Co.
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