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Teekay Tankers Ltd. Reports Fourth Quarter and Annual 2024 Results and Declares Dividend

1. Teekay Tankers reported Q4 and full year 2024 earnings. 2. A cash dividend of $0.25 per share declared, payable March 14, 2025. 3. Teekay operates 39 double-hull tankers, mixing spot and time-charter contracts. 4. The company manages vessels for the Australian Government and other entities. 5. Teekay was formed in December 2007 and trades under NYSE symbol TNK.

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-0.39%S&P 500
$40.6502/19 04:12 PM EDTEvent Start
$40.302/20 10:59 PM EDTLatest Updated
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FAQ

Why Bullish?

The declared dividend reflects financial health, likely boosting investor confidence. Similar past dividend announcements have positively influenced TNK stock prices.

How important is it?

The earnings report and dividend are significant to shareholders, indicating financial stability. Previous instances of dividends affecting stock prices assert this importance.

Why Short Term?

The immediate dividend announcement can attract short-term investors. Past examples show stock increases following dividend declarations.

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TNKTEEKY
February 19, 2025 16:05 ET  | Source: Teekay Tankers Ltd. HAMILTON, Bermuda, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter and the year ended December 31, 2024 and announced that its Board of Directors has declared a cash dividend of $0.25 per share for the quarter ended December 31, 2024. The cash dividend is payable on March 14, 2025 to all shareholders of record as at March 3, 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 39 double-hull tankers (including 23 Suezmax tankers and 16 Aframax / LR2 tankers), and has five 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

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