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

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, May 26th will be paid a dividend of 0.25 per share by the shipping company on Tuesday, June 2nd. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, May 26th.

Teekay Tankers has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay Tankers to earn $4.65 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 21.5%.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $77.74 on Thursday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 7.70 and a beta of -0.21. Teekay Tankers has a 1 year low of $41.05 and a 1 year high of $83.99. The firm’s 50 day moving average price is $74.12 and its two-hundred day moving average price is $65.64.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. The company had revenue of $286.09 million during the quarter. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%. As a group, equities analysts predict that Teekay Tankers will post 7.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Teekay Tankers in the 4th quarter valued at approximately $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $33,000. Leonteq Securities AG acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at $34,000. Global Trust Asset Management LLC purchased a new position in shares of Teekay Tankers during the 1st quarter valued at $46,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Teekay Tankers during the 3rd quarter valued at $54,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

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.