Teekay Tankers Ltd.
NYSE : TNK

Teekay Tankers Ltd.

February 23, 2011 16:03 ET

Teekay Tankers Ltd. Declares Dividend

HAMILTON, BERMUDA--(Marketwire - Feb. 23, 2011) - Teekay Tankers Ltd. (NYSE:TNK) today announced that its Board of Directors has voted to declare a cash dividend of $0.22 per share for the quarter ended December 31, 2010. The cash dividend is payable on March 15, 2011 to all shareholders of record on March 8, 2011.

About Teekay Tankers Ltd.

Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation (NYSE: TK) as part of its strategy to expand its conventional oil tanker business. Teekay Tankers owns a fleet of nine double-hull Aframax tankers and six double-hull Suezmax tankers, which an affiliate of Teekay Corporation manages through a mix of short- or medium-term fixed-rate time-charter contracts and spot tanker market trading. In addition, Teekay Tankers owns a VLCC newbuilding, scheduled to deliver in April 2013, through a 50 percent joint venture. Teekay Tankers intends to distribute on a quarterly basis all of its Cash Available for Distribution, subject to any reserves established by its board of directors.

Teekay Tankers' common stock trades on the New York Stock Exchange under the symbol "TNK".

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