Teekay Tankers Ltd.
NYSE : TNK

Teekay Tankers Ltd.

February 24, 2009 15:45 ET

Teekay Tankers Ltd. Declares Dividend

HAMILTON, BERMUDA--(Marketwire - Feb. 24, 2009) - Teekay Tankers Ltd. (NYSE:TNK) today announced that its Board of Directors has voted to declare a cash dividend of $0.72 per share for the quarter ending December 31, 2008, representing a total cash dividend of $18.0 million. The cash dividend is payable on March 13, 2009 to all shareholders of record on March 6, 2009.

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 currently owns a fleet of nine double-hull Aframax tankers and two 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 Corporation has agreed to offer to Teekay Tankers, prior to June 18, 2009, the opportunity to purchase an additional two existing Suezmax tankers. 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".

Contact Information

  • Teekay Tankers Ltd.
    Kent Alekson
    Investor Relations Enquiries
    (604) 844-6654
    or
    Teekay Tankers Ltd.
    Alana Duffy
    Media Enquiries
    (604) 844-6605
    Website: www.teekaytankers.com