Teekay Tankers reported 2024 results, declaring a $0.25 quarterly dividend payable March 14, 2025.
Quiver AI Summary
Teekay Tankers Ltd. announced its financial results for Q4 and the full year 2024, declaring a cash dividend of $0.25 per share payable on March 14, 2025, to shareholders of record as of March 3, 2025. The company operates a fleet of 39 double-hull tankers and has additional chartered-in vessels, employing a combination of spot market trading and fixed-rate time charters. Teekay Tankers, formed in 2007 by Teekay Corporation, also manages vessels for the Australian Government and operates a ship-to-ship transfer business in the U.S. Gulf and Caribbean. Further details and earnings presentations are accessible on their website.
Potential Positives
- Teekay Tankers has declared a cash dividend of $0.25 per share, demonstrating financial stability and a commitment to returning value to shareholders.
- The dividend will be payable on March 14, 2025, indicating strong liquidity and cash flow management for the company.
- The comprehensive earnings report highlights the company's operational scale with a fleet of 39 double-hull tankers, showcasing its capacity in the oil transportation sector.
- Teekay Tankers' involvement in marine services for the Australian Government and energy companies expands its revenue streams and indicates a solid reputation in the industry.
Potential Negatives
- The announcement of a cash dividend of only $0.25 per share may indicate limited profitability and cash flow, potentially disappointing investors seeking higher returns.
- The reliance on spot tanker market trading and short- to medium-term contracts exposes the company to market volatility, which could impact future earnings stability.
- The press release lacks detailed financial metrics and analysis regarding the company's performance, leaving investors without critical insights into its financial health and growth prospects.
FAQ
What are Teekay Tankers' recent financial results?
Teekay Tankers reported its results for the quarter and year ended December 31, 2024, announcing a cash dividend of $0.25 per share.
When is the dividend payable to shareholders?
The cash dividend is payable on March 14, 2025, to shareholders of record as of March 3, 2025.
How many vessels does Teekay Tankers operate?
Teekay Tankers operates a fleet of 39 double-hull tankers, including Suezmax and Aframax/LR2 tankers.
What type of contracts does Teekay Tankers use for its vessels?
Teekay Tankers employs its vessels through spot market trading and short- or medium-term fixed-rate time charter contracts.
When was Teekay Tankers founded?
Teekay Tankers was formed in December 2007 by Teekay Corporation Ltd.
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 3 institutional investors add shares of $TNK stock to their portfolio, and 228 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
- FULLER & THALER ASSET MANAGEMENT, INC. removed 1,240,458 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $72,256,678
- 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
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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:
[email protected]
Website:
www.teekay.com
