Teekay Offshore Partners (TOO) Declares $0.11 Quarterly Dividend; 13.9% Yield

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Go back to Teekay Offshore Partners (TOO) Declares $0.11 Quarterly Dividend; 13.9% Yield

Teekay Offshore Partners Declares Distribution

January 20, 2016 6:50 AM EST

HAMILTON, BERMUDA -- (Marketwired) -- 01/20/16 -- Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO), has declared a cash distribution of $0.11 per unit for the quarter ended December 31, 2015, down from $0.56 per unit paid in the prior quarter and consistent with the Partnership's previously announced plan to temporarily reduce its quarterly cash distribution. The Partnership expects to use the cash distribution reduction to create reserves to fund the equity capital requirements on its future profitable growth projects and to reduce debt levels,... More