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

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, February 18th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.25 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, March 2nd.

Teekay Tankers has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teekay Tankers to earn $9.95 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 10.1%.

Teekay Tankers Stock Up 1.2%

Shares of TNK traded up $0.85 during trading hours on Thursday, reaching $73.39. 108,747 shares of the company traded hands, compared to its average volume of 409,253. The stock has a market capitalization of $2.53 billion, a PE ratio of 8.20 and a beta of -0.27. The stock has a fifty day simple moving average of $60.01 and a 200 day simple moving average of $55.73. Teekay Tankers has a fifty-two week low of $33.35 and a fifty-two week high of $74.50.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.09. The company had revenue of $158.78 million for the quarter, compared to analyst estimates of $179.70 million. Teekay Tankers had a net margin of 32.87% and a return on equity of 10.63%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. Research analysts predict that Teekay Tankers will post 7.13 EPS for the current fiscal 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.