Scorpio Bulkers Inc. Authorizes $50 Million Share Repurchase Program
Scorpio Bulkers Inc. announced that its Board of Directors has authorized the repurchase of up to $50.0 million of the Company’s common stock in open market or privately negotiated transactions. The specific timing and amounts of the repurchases, will be in the sole discretion of management and may vary based on market conditions and other factors, but the Company is not obligated under the terms of the program to repurchase any of its common stock. The authorization has no expiration date.
Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc. own 46 vessels, consisting of 18 Kamsarmax vessels and 26 Ultramax vessels. The Company has agreed to time charter-in one Ultramax vessel. The owned fleet will have a total carrying capacity of approximately 3.2 million deadweight tonnes.
Source: Scorpio Bulkers Inc.