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Teekay Corporation shares have rallied after subsidiary and main asset Teekay Tankers Ltd. reported record first quarter results and announced an aggregate of $1.25 in dividends per share payable next month. Over the next four quarters, Teekay Corporation should receive at least $20 million in dividend payments from Teekay Tankers.
Teekay Corporation's shares rally to new multi-year highs after the company accelerated share buybacks over a couple of weeks. In recent months, the company has repurchased 6.3% of its outstanding common stock at an average price of $4.64 per share for a total of $30 million.
Teekay has authorized up to $30 million in share repurchases. The company announced the conclusion of a previous $30 million stock buyback program.
HAMILTON, Bermuda, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the fourth quarter and annual 2022 before market open on Thursday, February 23, 2023.
Global shipping companies continue to benefit from international LNG demand despite growing recession jitters. Earnings are seen as climbing in the near term for Teekay while its chart is even more bullish.
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HAMILTON, Bermuda, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay) (NYSE:TK) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the third quarter of 2022 before market open on Thursday, November 3, 2022.
Updating investors on a number of recent, positive developments. Value of the company's stake in Teekay Tankers has more than doubled in recent months as Russia's assault on Ukraine has reshaped tanker markets.