Scorpio Bulkers (NYSE: SALT) disclosed that Scorpio Services Holding Limited has acquired 50,000 common shares at an average price of $17.15. The total outstanding shares of the Company are 7,247,580, with the Scorpio Group owning 19.98% of shares. The Company's fleet consists of 51 vessels, including 45 owned dry bulk vessels and six time chartered vessels. Scorpio Bulkers aims to enhance its market position while facing challenges such as fluctuations in charter rates and operational costs.
Scorpio Bulkers (SALT) reported a GAAP net loss of $124.7 million for Q1 2020, significantly higher than a loss of $3.5 million in Q1 2019. The loss per diluted share was $18.12, influenced by a non-cash loss of $89.1 million from an equity investment in Scorpio Tankers. Total vessel revenues declined by 19% to $40.8 million. The company declared a quarterly cash dividend of $0.05 per share, down from $0.20. Cash and equivalents stood at approximately $100.8 million as of May 8, 2020. Despite current weak dry bulk market conditions, management remains optimistic about future rates.
Summary not available.