Teekay Tankers Ltd. Reports First Quarter 2025 Results and Declares Dividends

Rhea-AI Summary

Teekay Tankers Ltd. (NYSE: TNK) has announced its financial results for Q1 2025 and declared two dividends for shareholders. The company will distribute a regular quarterly fixed cash dividend of $0.25 per share and an additional special cash dividend of $1.00 per share. Both dividends will be paid on May 30, 2025 to shareholders of record as of May 19, 2025.

The company has made its complete earnings release and Teekay Group's earnings presentation available on their corporate website for detailed financial information.

["Declared special cash dividend of $1.00 per share on top of regular dividend", "Maintaining regular quarterly dividend of $0.25 per share", "Company's ability to pay special dividend suggests strong cash position"]

HAMILTON, Bermuda, May 07, 2025 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended March 31, 2025 and announced that its Board of Directors has declared its fixed cash dividend of $0.25 per share for the quarter ended March 31, 2025. In addition, the Board of Directors has declared a special cash dividend of $1.00 per share. The cash dividends are payable on May 30, 2025 to all shareholders of record as at May 19, 2025.

The full earnings release and Teekay Group’s earnings presentation are available on the Company’s website here.

About Teekay Tankers

Teekay Tankers has a fleet of 35 double-hull tankers (including 20 Suezmax tankers and 15 Aframax / LR2 tankers), and has four time chartered-in oil and product 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 manages and operates vessels for the Australian Government and Australian energy companies as part of the marine services provided by the Company and 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 Ltd.

Teekay Tankers’ Class A common shares trade on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations
enquiries contact:

E-mail: investor.relations@teekay.com
Website: www.teekay.com

FAQ

What dividends did Teekay Tankers (TNK) declare for Q1 2025?

Teekay Tankers declared a regular fixed cash dividend of $0.25 per share and a special cash dividend of $1.00 per share for Q1 2025.

When will TNK pay its Q1 2025 dividends?

Both the regular and special dividends will be paid on May 30, 2025 to shareholders of record as of May 19, 2025.

What is the total dividend payment per share for TNK in Q1 2025?

The total dividend payment is $1.25 per share, consisting of a $0.25 regular dividend and a $1.00 special dividend.

What is the record date for Teekay Tankers' Q1 2025 dividends?

The record date for both dividends is May 19, 2025.