Teekay Tankers Declares Dividend

HAMILTON, BERMUDA -- (Marketwired) -- 05/19/16 -- Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK) today announced that its Board of Directors has declared a cash dividend of $0.09 per share for the quarter ended March 31, 2016. The cash dividend is payable on June 3, 2016 to all shareholders of record as at May 30, 2016.

About Teekay Tankers

Teekay Tankers currently owns a fleet of 45 double-hull tankers, including 22 Suezmax tankers, 14 Aframax tankers, seven Long Range 2 (LR2) product tankers and two Medium-Range (MR) product tankers, and has 8 contracted time charter-in tankers. Teekay Tankers' vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. The Company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business and a minority interest of over 11 percent in Tanker Investments Ltd. (OSE: TIL), which currently owns a fleet of 18 modern tankers. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.

Teekay Tankers' common stock trades on the New York Stock Exchange under the symbol "TNK."

Contacts:
For Investor Relations enquiries contact:
Teekay Tankers Ltd.
Ryan Hamilton
+1 (604) 844-6654
www.teekay.com

Source: Teekay Tankers Ltd.

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