Teekay Corporation (TK) Declares $0.31625 Quarterly Dividend; Plans Dividend Increase

Teekay Corporation (NYSE: TK) declared a quarterly dividend of $0.31625 per share, or $1.265 annualized.

The dividend will be payable on January 30, 2015, to stockholders of record on January 20, 2015, with an ex-dividend date of January 15, 2015.

The annual yield on the dividend is 2.5 percent.

"Consistent with the new Teekay dividend policy announced in late-September 2014, we intend to increase Teekay's cash dividend following the completion of the sale of the Petrojarl Knarr FPSO to Teekay Offshore Partners, which is subject to the FPSO unit achieving first oil" commented Peter Evensen, Teekay's President and Chief Executive Officer. "The offshore installation and testing of the Petrojarl Knarr on its North Sea field is progressing well. Depending on weather conditions and other factors, the Company currently expects to complete the sale of the Petrojarl Knarr FPSO following commencement of its charter contract with BG Group during the first quarter of 2015."

For a dividend history and other dividend-related data on Teekay Corporation (TK) click here.

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