Teekay Tankers announced Q1 2025 results, declaring a $0.25 and a $1.00 special cash dividend for shareholders.
Quiver AI Summary
Teekay Tankers Ltd. reported its financial results for the first quarter of 2025 and declared a fixed cash dividend of $0.25 per share along with a special cash dividend of $1.00 per share, both payable on May 30, 2025, to shareholders of record as of May 19, 2025. The company operates a fleet of 35 double-hull tankers, including 20 Suezmax and 15 Aframax/LR2 tankers, and also manages vessels for the Australian Government. Teekay Tankers was established in December 2007 and trades on the New York Stock Exchange under the ticker TNK. Full details of the earnings release and presentations are available on its website.
Potential Positives
- Teekay Tankers has declared a fixed cash dividend of $0.25 per share, indicating financial stability and a commitment to returning value to shareholders.
- The Board of Directors also declared a special cash dividend of $1.00 per share, which reflects strong company performance and further enhances shareholder returns.
- The cash dividends are expected to be paid out soon, providing immediate financial benefits to shareholders and encouraging continued investment in the company.
Potential Negatives
- The announcement of fixed and special cash dividends may indicate that the company is prioritizing short-term shareholder returns over long-term investment or growth initiatives, which could raise concerns about the company's future sustainability.
- The specific amount of the special cash dividend ($1.00 per share) could suggest that the company has limited opportunities for reinvestment, potentially signaling challenges in revenue generation or operational profitability.
FAQ
What are the recent dividend announcements from Teekay Tankers?
Teekay Tankers announced a fixed cash dividend of $0.25 per share and a special cash dividend of $1.00 per share for Q1 2025.
When will the dividends be paid to shareholders?
The dividends are payable on May 30, 2025, to all shareholders of record as of May 19, 2025.
What is the fleet composition of Teekay Tankers?
Teekay Tankers has a fleet of 35 double-hull tankers, including Suezmax and Aframax/LR2 tankers.
What services does Teekay Tankers provide?
Teekay Tankers provides marine services, including managing vessels for the Australian Government and ship-to-ship transfer operations.
Where can I find more information about Teekay Tankers?
More information, including the full earnings release, is available on Teekay Tankers' website at www.teekay.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TNK Hedge Fund Activity
We have seen 1 institutional investors add shares of $TNK stock to their portfolio, and 152 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DIMENSIONAL FUND ADVISORS LP removed 2,050,649 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $81,595,323
- BLACKROCK, INC. removed 1,668,072 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $66,372,584
- FMR LLC removed 1,480,670 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $58,915,859
- PRINCIPAL FINANCIAL GROUP INC removed 906,700 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $36,077,593
- AMERICAN CENTURY COMPANIES INC removed 848,325 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $33,754,851
- ACADIAN ASSET MANAGEMENT LLC removed 772,024 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $30,718,834
- RENAISSANCE TECHNOLOGIES LLC removed 591,512 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $23,536,262
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$TNK Analyst Ratings
Wall Street analysts have issued reports on $TNK in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Evercore ISI issued a "Outperform" rating on 04/22/2025
To track analyst ratings and price targets for $TNK, check out Quiver Quantitative's $TNK forecast page.
Full Release
HAMILTON, Bermuda, May 07, 2025 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. ( Teekay Tankers or the Company ) (NYSE: TNK) today reported the Company's results for the quarter ended March 31, 2025 and announced that its Board of Directors has declared its fixed cash dividend of $0.25 per share for the quarter ended March 31, 2025. In addition, the Board of Directors has declared a special cash dividend of $1.00 per share. The cash dividends are payable on May 30, 2025 to all shareholders of record as at May 19, 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 35 double-hull tankers (including 20 Suezmax tankers and 15 Aframax / LR2 tankers), and has four 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:
[email protected]
Website:
www.teekay.com
