Teekay Tankers (TNK) has released an update.
Teekay Tankers Ltd. reported a strong first quarter in 2024 with a GAAP net income of $144.8 million and an adjusted net income of $132.3 million, while declaring a cash dividend of $0.25 per share and a special dividend of $2.00 per share. After repurchasing eight vessels for $137.0 million, the company is now debt-free. The increased income is attributed to higher average spot tanker rates, despite the sale of two vessels and lower average rates compared to the previous year.
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