Teekay Tankers Ltd. (TNK) to Issue Quarterly Dividend of $0.25 on June 2nd

Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Tuesday, May 26th will be paid a dividend of 0.25 per share by the shipping company on Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, May 26th.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teekay Tankers to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.5%.

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Teekay Tankers Stock Down 0.4%

Shares of NYSE TNK opened at $77.30 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 6.28 and a beta of -0.21. Teekay Tankers has a 52-week low of $41.05 and a 52-week high of $83.99. The business’s 50 day moving average is $74.15 and its two-hundred day moving average is $65.77.

Teekay Tankers (NYSE:TNK – Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. The business had revenue of $286.09 million during the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.86%. Analysts anticipate that Teekay Tankers will post 7.3 EPS for the current fiscal year.

Teekay Tankers Company Profile

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Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.

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