Teekay Corporation Ltd. Declares Special Dividend of $1.00 (NYSE:TK)

Teekay Corporation Ltd. (NYSE:TK) declared a special dividend on Wednesday, May 13th. Shareholders of record on Tuesday, May 26th will be paid a dividend of 1.00 per share by the shipping company on Tuesday, June 2nd. The ex-dividend date is Tuesday, May 26th.

Teekay Price Performance

NYSE:TK opened at $13.26 on Thursday. The firm has a 50-day moving average of $12.53 and a two-hundred day moving average of $10.89. The stock has a market cap of $1.15 billion, a P/E ratio of 11.73 and a beta of 0.23. Teekay has a 1-year low of $7.11 and a 1-year high of $14.38.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.44. Teekay had a return on equity of 4.76% and a net margin of 10.33%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TK. State of Alaska Department of Revenue bought a new stake in shares of Teekay in the 3rd quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its position in shares of Teekay by 250.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Teekay in the fourth quarter worth about $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay in the first quarter valued at about $48,000. Finally, CWM LLC increased its holdings in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares during the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.