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

1. Teekay Tankers declared a $0.25 cash dividend, payable on March 14, 2025. 2. The company reported its earnings for Q4 and the year 2024. 3. Teekay operates a fleet of 39 double-hull tankers, enhancing market presence. 4. Cash dividends may attract income-focused investors to TNK shares. 5. Teekay manages vessels for the Australian Government, broadening operational scope.

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FAQ

Why Bullish?

The dividend announcement appeals to income-focused investors. Similar past announcements often boost stock prices.

How important is it?

The dividend reflects the company's financial health; healthy dividends are pivotal for attracting investors.

Why Short Term?

The immediate effect from the dividend is expected to be seen shortly. Dividend payouts generally impact prices around the pay date.

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SFLKNOPGLOP
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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