New York-listed Scorpio Tankers has continued to make share buybacks its top priority in capital allocation, splashing out $175m to repurchase 2.42m in shares in the last six weeks.
The Emanuele Lauro-led company said in an update after the close of market on Monday that it had taken in the stock at an average price of $72.45.
The product tanker giant has used up almost half of its enlarged $400m repurchase authorisation, disclosed when it reported second-quarter earnings in August.
