Teekay Tankers declares $1.00 per share special cash dividend

In addition, the company declared a special dividend of $1.00 per share. The company said, “While the near-term tanker market outlook remains difficult to predict and significantly influenced by highly liquid geopolitical events, we believe Teekay Tankers (TNK) is well positioned to generate free cash flow and continue to renew our fleet, supported by our low cash flow break-even levels and significant investment capacity. Even as we invest in fleet renewal, we remain in a position to return capital to shareholders as our Board of Directors has approved a special cash dividend of $1.00 per share in addition to our regular fixed quarterly dividend for a combined cash dividend of $1.25 per share.”