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HAMILTON, Bermuda - Teekay Tankers Ltd. (NYSE:TNK) announced Wednesday a quarterly cash dividend of $0.25 per share for the second quarter ended June 30, 2025, representing an annual yield of 4.42%. The dividend will be payable on August 22 to shareholders of record as of August 11. According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall score.
The shipping company, which specializes in crude oil and petroleum product transportation, maintains a fleet of 37 double-hull tankers, including 21 Suezmax tankers and 16 Aframax/LR2 tankers. With a market capitalization of $1.54 billion and trading at a P/E ratio of 4.65, InvestingPro analysis indicates the stock is currently undervalued. Additionally, the company has three time chartered-in oil and product tankers and owns a 50 percent stake in a Very Large Crude Carrier (VLCC) through a joint venture.
Teekay Tankers, formed in December 2007 by Teekay Corporation Ltd., operates vessels through a combination of spot market trading and short to medium-term fixed-rate time charter contracts.
The company also provides marine services to the Australian Government and Australian energy companies, and owns a ship-to-ship transfer business that conducts lightering operations in the U.S. Gulf and Caribbean regions.
The dividend announcement was made alongside the release of the company’s financial results for the quarter ended June 30, 2025, according to the company’s press release statement.
In other recent news, BofA Securities has adjusted its outlook on Teekay Tankers. The firm has lowered its price target for the company to $41.00 from a previous target of $42.00, while maintaining an Underperform rating. Additionally, BofA Securities has revised its earnings per share estimates for Teekay Tankers, reducing the second-quarter 2025 forecast by 33% to $1.35. The full-year 2025 estimate has been cut by 22% to $4.30, and the projection for 2026 has been decreased by 8% to $4.15. These changes reflect BofA Securities’ updated analysis of the company’s financial performance. Investors may find these revisions significant as they consider the firm’s future earnings potential.
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