Teekay Tankers Ltd. Reports First Quarter 2024 Results and Declares Dividends
Rhea-AI Summary
Teekay Tankers reported its first quarter 2024 results, declaring a cash dividend of $0.25 per share and a special cash dividend of $2.00 per share. The dividends are payable on May 31, 2024, to shareholders of record as of May 21, 2024. Teekay Tankers owns a fleet of 42 double-hull tankers and operates in the spot tanker market trading and time charter contracts. The company's Class A common stock trades on the NYSE under the symbol 'TNK'.
Positive
Declared cash dividends of $0.25 per share and a special cash dividend of $2.00 per share, boosting shareholder returns.
Operates a fleet of 42 double-hull tankers, including Suezmax and Aframax / LR2 tankers, diversifying its portfolio.
Engages in spot tanker market trading and time charter contracts, providing revenue stability.
Owns a ship-to-ship transfer business for full service lightering operations in the U.S. Gulf and Caribbean, expanding service offerings.
Negative
- None.
News Market Reaction
On the day this news was published, TNK gained 4.66%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HAMILTON, Bermuda, May 09, 2024 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended March 31, 2024 and announced that its Board of Directors has declared a cash dividend of
The full earnings release and earnings presentation are available on the Company’s website here.
About Teekay Tankers
Teekay Tankers has a fleet of 42 double-hull tankers (including 25 Suezmax tankers and 17 Aframax / LR2 tankers), and has eight time chartered-in tankers. Teekay Tankers’ vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its oil tanker business.
Teekay Tankers’ Class A common stock trades on the New York Stock Exchange under the symbol “TNK.”
For Investor Relations
enquiries contact:
E-mail: TeekayTankers@IGBIR.com
Website: www.teekay.com
FAQ
What dividends did Teekay Tankers declare for the first quarter of 2024?
When are the dividends payable to shareholders?
How many tankers does Teekay Tankers own?
Where does Teekay Tankers' Class A common stock trade?
