Teekay Tankers Declares Dividend

HAMILTON, BERMUDA -- (Marketwired) -- 08/04/16 -- Teekay Tankers Ltd. (Teekay Tankers) (NYSE: TNK) today announced that its Board of Directors has declared a cash dividend of $0.06 per share for the quarter ended June 30, 2016. The cash dividend is payable on August 19, 2016 to all shareholders of record as at August 15, 2016.

About Teekay Tankers

Teekay Tankers currently owns a fleet of 44 double-hull tankers, including 22 Suezmax tankers, 14 Aframax tankers, seven Long Range 2 (LR2) product tankers and one Medium-Range (MR) product tanker, and has six contracted time charter-in vessels. 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
Ryan Hamilton
+1 (604) 844-6654
Website: www.teekay.com

Source: Teekay Tankers Ltd.

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