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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Stock market reacts positively to Aegean's move for new president

Aegean Marine Petroleum's share price rose 8.7% following news that Nikolas Tavlarios had stepped down.





Updated on 02 Jun 2017 10:05 GMT

Aegean Marine Petroleum's share price on the New York Stock Exchange (NYSE) rose on Thursday following the announcement that E. Nikolas Tavlarios had stepped down as president.

The bunker firm's share price increased $0.40, or 8.7 percent, to $5.00 yesterday, as the market reacted positively to the news that Aegean was searching for a new president.

The previous day, Aegean's shares had fallen to $4.60, which meant that during a week of trading - between May 24 and May 31 - the company's share price had plummeted in value by $6.00, or 56.6 percent, from $10.60 on May 23.

At the close of trading on Thursday, Aegean's market capitalization was $196.44 million, with a price-earnings (PE) ratio of 5.37 for the trailing twelve months (TTM).

The new 52-week trading range following Wednesday's slump is now $4.60 - $13.10.

Meanwhile, Aegean also goes ex-dividend on June 2. Shareholders who purchased Aegean shares prior to the ex-dividend date are eligible for the cash dividend payment. The next dividend payment on any shares traded on or after this date will go to the seller.

A cash dividend payment of $0.02 per share is scheduled to be paid on June 20.

This marks the 11th quarter that Aegean has paid the same dividend. At the current stock price, the dividend yield is 1.74 percent.






Related Links:

Nikolas Tavlarios steps down as president of Aegean Marine Petroleum
Aegean announces plan to cut annual operating costs by $20 million
Aegean Marine Petroleum's share price plummets more than 30%
Aegean posts 88.1% drop in net income despite rise in revenue, sales volume
Aegean expecting 'strong growth' from bunker trading
Aegean Marine Petroleum S.A.
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