Teekay Tankers Ltd. to Issue Quarterly Dividend of $0.25 (NYSE:TNK)

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 10th will be given a dividend of 0.25 per share by the shipping company on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 10th.

Teekay Tankers has a dividend payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Teekay Tankers to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.6%.

Teekay Tankers Stock Up 2.0%

Shares of TNK stock opened at $78.29 on Thursday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 6.36 and a beta of -0.22. Teekay Tankers has a 12-month low of $41.77 and a 12-month high of $83.99. The firm has a fifty day moving average of $72.64 and a 200-day moving average of $71.74.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. On average, equities analysts expect that Teekay Tankers will post 13.75 EPS for the current year.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.