Teekay Takes Ownership of Two VLCCs

Teekay Tankers has exercised its rights under the security documentation to realize the amounts owed under the company’s investment in term loans and assumed full ownership of two 2010-built Very Large Crude Carrier (VLCC) vessels.

In addition, Teekay Tankers’ Board of Directors has declared a cash dividend of $0.03 per share for the quarter ended March 31, 2014.

The cash dividend is payable on April 30, 2014 to all shareholders of record on April 17, 2014.

[mappress]
teekaytankers, April 7, 2014