Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) declared a quarterly dividend on Wednesday, November 11th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.25 per share by the shipping company on Friday, December 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 23rd.
Teekay Tankers has a dividend payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Teekay Tankers to earn $7.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.4%.
Teekay Tankers Stock Up 4.0%
Shares of TNK opened at $89.13 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 5.25 and a beta of -0.05. The company’s fifty day moving average is $97.09 and its 200-day moving average is $80.13. Teekay Tankers has a 12 month low of $50.94 and a 12 month high of $110.65.
Teekay Tankers (NYSE:TNK – Get Free Report) last posted its quarterly earnings data on Wednesday, November 11th. The shipping company reported $5.04 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.18. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. The company had revenue of $369.25 million during the quarter, compared to analysts’ expectations of $263.55 million. As a group, research analysts predict that Teekay Tankers will post 15.40 earnings per share for the current fiscal year.
About Teekay Tankers
Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers. The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.
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