Teekay Tankers Ltd (TNK) Raises Quarterly Dividend to $0.12; Yields 6.5%
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Teekay Tankers Announces New Dividend Policy; Secures New $900 Million Debt Facility
December 14, 2015 6:58 AM ESTHAMILTON, BERMUDA -- (Marketwired) -- 12/14/15 -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today announced that its Board of Directors has approved a new dividend policy, effective immediately, under which the Company intends to pay out 30 to 50 percent of its quarterly adjusted net income(1), with a minimum quarterly dividend of $0.03 per share, subject to any reserves determined to be required by the Company's Board of Directors. The new dividend policy will provide investors the opportunity to more directly participate in the earnings from the tanker market while also enable the Company to... More
