International Seaways ( (INSW) ) just unveiled an announcement.
International Seaways, Inc. has enhanced shareholder value by repurchasing 501,646 shares of its common stock at an average price of $49.81 per share, spending roughly $25 million. These shares will be retired, with the company still having another $25 million allocated for future buybacks under its $50 million program. Alongside the repurchase, a dividend of $1.50 per share will be paid, underscoring the company’s commitment to rewarding investors and efficient capital deployment following the sale of a vessel.
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