Teekay Tankers Ltd. Reports Second Quarter 2024 Results and Declares Dividend

Rhea-AI Summary

Teekay Tankers (NYSE: TNK) has released its financial results for the second quarter of 2024 and declared a cash dividend of $0.25 per share. The dividend is payable on August 23, 2024, to shareholders of record as of August 12, 2024. Teekay Tankers operates a fleet of 43 double-hull tankers, including 25 Suezmax and 18 Aframax/LR2 tankers, along with eight time chartered-in vessels. The company also owns a 50% stake in a Very Large Crude Carrier (VLCC) joint venture and manages a ship-to-ship transfer business in the U.S. Gulf and Caribbean. Teekay Tankers employs its vessels through a combination of spot market trading and short- to medium-term fixed-rate time charter contracts.

Positive

• Declared a cash dividend of $0.25 per share for Q2 2024
• Operates a diverse fleet of 43 double-hull tankers
• Owns a 50% stake in a VLCC joint venture
• Manages a ship-to-ship transfer business in strategic locations

Negative

• None.

HAMILTON, Bermuda, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended June 30, 2024 and announced that its Board of Directors has declared a cash dividend of $0.25 per share for the quarter ended June 30, 2024. The cash dividend is payable on August 23, 2024 to all shareholders of record as at August 12, 2024.

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

About Teekay Tankers

Teekay Tankers has a fleet of 43 double-hull tankers (including 25 Suezmax tankers and 18 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 is Teekay Tankers' (TNK) dividend for Q2 2024?

Teekay Tankers (TNK) declared a cash dividend of $0.25 per share for the second quarter of 2024, payable on August 23, 2024, to shareholders of record as of August 12, 2024.

How many vessels does Teekay Tankers (TNK) operate as of Q2 2024?

As of Q2 2024, Teekay Tankers (TNK) operates a fleet of 43 double-hull tankers, including 25 Suezmax tankers and 18 Aframax/LR2 tankers, along with eight time chartered-in tankers.

What additional business does Teekay Tankers (TNK) own besides its tanker fleet?

In addition to its tanker fleet, Teekay Tankers (TNK) owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean.

Does Teekay Tankers (TNK) have any joint venture investments?

Yes, Teekay Tankers (TNK) owns a 50 percent stake in a joint venture that owns a Very Large Crude Carrier (VLCC).