Scorpio Tankers Inc. reported its results for the three months ended March 31, 2023.

The Company also announced that its board of directors has declared a quarterly cash dividend of $0.25 per common share.

Results for the three months ended March 31, 2023 and 2022

• For the three months ended March 31, 2023, the Company had net income of $193.2 million, or $3.40 basic and $3.27 diluted earnings per share.
• For the three months ended March 31, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $195.6 million, or $3.44 basic and $3.31 diluted earnings per share, which excludes from net income a $2.3 million, or $0.04 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related extinguishment costs.
• For the three months ended March 31, 2022, the Company had a net loss of $84.4 million, or $1.52 basic and diluted loss per share.
• For the three months ended March 31, 2022, the Company had an adjusted net loss (see Non-IFRS Measures section below) of $14.9 million, or $0.27 basic and diluted loss per share, which excludes from the net loss (i) a $67.7 million, or $1.22 per basic and diluted share, aggregate write-down of vessels held for sale and loss on the sale of vessels, and (ii) $1.9 million, or $0.03 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on the debt or lease financing obligations relating to these vessel sales and related debt extinguishment costs.

Declaration of Dividend

On May 1, 2023, the Board of Directors declared a quarterly cash dividend of $0.25 per common share, with a payment date of June 30, 2023 to all shareholders of record as of June 13, 2023 (the record date). As of May 1, 2023, there were 59,455,820 common shares of the Company outstanding.