Teekay Corporation: Tankers Dividend Should Fuel Additional Share Buybacks, Buy [Seeking Alpha]
Teekay Corporation (TK)
Last teekay corporation earnings: 2/21 03:25 am
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US:NYSE Investor Relations:
teekay.com/investors/teekay-corporation
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Source: Seeking Alpha
HeliRyNote:I have covered Teekay Corporation (NYSE:TKearlier articlesOn Thursday,TNK)reportedrecord first quarter results and announced the initiation of a $0.25 quarterly dividend. Even better, "given the company's outstanding financial performance over the last year," Teekay Tankers decided to pay aspecial cash dividendof $1.00 per share.Teekay Tankers PresentationRemember, Russia's assault on Ukraine has reshaped the tanker markets as sanctions have led to trade recalibration towards longer distances with refinery dislocation adding further to ton-miles.As a result, Teekay Tankers is generating decent amounts of cash with the company's annualized free cash flow yield approaching 60% at current charter rate levels.With Teekay owning close to 9.7 million shares of Teekay Tankers, the company will receive approximately $12.1 million in dividend payments in June, which are likely to be directed towards furthershare buybacksSince reporting earnings last quarter, Teekay Parent has contin
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News
- Teekay Corporation Reports First Quarter 2024 ResultsGlobeNewswire
- Teekay Group to Announce First Quarter 2024 Earnings Results on May 9, 2024GlobeNewswire
- Teekay Group Publishes 2023 Sustainability Report and Announces Availability of Annual Reports on Form 20-F for the Year Ended December 31, 2023 [Yahoo! Finance]Yahoo! Finance
- Teekay Group Publishes 2023 Sustainability Report and Announces Availability of Annual Reports on Form 20-F for the Year Ended December 31, 2023GlobeNewswire
- Teekay Corporation Reports Fourth Quarter and Annual 2023 ResultsGlobeNewswire
TK
Sec Filings
- 5/10/24 - Form 6-K
- 5/9/24 - Form 6-K
- 4/19/24 - Form 6-K
- TK's page on the SEC website