Teekay Tankers Ltd. (TNK) to Distribute Quarterly Dividend of $0.25 on December 4th

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.25 per share by the shipping company on Friday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 23rd.

Teekay Tankers has a dividend payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Teekay Tankers to earn $7.45 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 13.4%.

Teekay Tankers Trading Down 0.7%

NYSE TNK opened at $88.30 on Friday. The stock has a market cap of $3.05 billion, a P/E ratio of 4.43 and a beta of -0.05. The company’s fifty day simple moving average is $97.03 and its 200-day simple moving average is $80.27. Teekay Tankers has a 52 week low of $50.94 and a 52 week high of $110.65.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, November 11th. The shipping company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.86 by $0.18. Teekay Tankers had a net margin of 53.76% and a return on equity of 26.99%. The business had revenue of $369.25 million during the quarter, compared to analyst estimates of $263.55 million. On average, research analysts expect that Teekay Tankers will post 15.40 EPS for the current fiscal year.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers. The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.