International Seaways Q2 net income $154M ($3.11/diluted), declares $1.42/share dividend, stock buyback increased

International Seaways, Inc.

2023-Q2 EPS reported $6.59 revenue$579,333,000

Net income $153.8M ($3.11 diluted) vs $69.0M ($1.38) YoY; revenue $292.2M, up 55%.
Combined dividend $1.42/share ($0.12 regular + $1.30 supplemental) payable Sept 27.
Share repurchase authorization expanded to $50M from $26M; bought 366k shares at avg $38.03 in Q2.
Prepaid $75M debt in Q2, $172M YTD; 30 vessels unencumbered as of July 3.
Ordered two LR1 newbuilds for $115M; secured $352M in contracted time charter revenue.

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