Teekay Tankers Ltd. Declares Dividend and Assumes Ownership of Two VLCC Tankers
April 04 2014 - 4:30PM
Marketwired
Teekay Tankers Ltd. Declares Dividend and Assumes Ownership of Two
VLCC Tankers
HAMILTON, BERMUDA--(Marketwired - Apr 4, 2014) - Teekay Tankers
Ltd. (Teekay Tankers) (NYSE:TNK) today announced that its
Board of Directors has declared a cash dividend of $0.03 per share
for the quarter ended March 31, 2014. The cash dividend is payable
on April 30, 2014 to all shareholders of record on April 17,
2014.
In addition, in late-March 2014 Teekay Tankers exercised its
rights under the security documentation to realize the amounts owed
under the Company's investment in term loans and assumed full
ownership of two 2010-built Very Large Crude Carrier
(VLCC) vessels, which previously secured the investment in
term loans.
About Teekay Tankers
Ltd.
Teekay Tankers currently owns a fleet of 29 double-hull vessels,
including 11 Aframax tankers, 10 Suezmax tankers, two VLCC tankers,
three Long Range 2 (LR2) product tankers, three
Medium-Range (MR) product tankers and has one
time-chartered in Aframax tanker, which vessels an affiliate of
Teekay Corporation (NYSE:TK) manages through a mix of short- or
medium-term fixed-rate time-charter contracts and spot tanker
market trading. The Company also owns a VLCC through a 50
percent-owned joint venture. In addition, Teekay Tankers owns a
minority interest in Tanker Investments Ltd. (OSLO:TIL). Teekay
Tankers was formed in December 2007 by Teekay Corporation as part
of its strategy to expand its conventional oil tanker business.
Teekay Tankers' common stock trades on the New York Stock
Exchange under the symbol "TNK".
Teekay Tankers Ltd.Ryan HamiltonInvestor Relations Enquiries+1
(604) 844-6654www.teekaytankers.com
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