Teekay Boosts Quarterly Dividend 15 Percent

Wednesday, October 08, 2008

Oil tanker operator Teekay Corp. said Tuesday it will increase its quarterly dividend by 15 percent to 31.625 cents per share, from 27.5 cents previously.

The dividend will be paid on Oct. 31 to shareholders of record on Oct. 17.

The Bermuda-based company also said it will repurchase $200 million of its shares, or about 14 percent of shares outstanding based on Monday's prices. Share repurchases take a company's shares out of circulation, boosting profits that are measured on a per-share basis.

Teekay shares rose $1.38, or 7.1 percent, to $20.80 on Tuesday. They're still near the low end of their 52-week range of $18.50 to $60.46.

Source:  Forbes

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Marine Highway Momentum from Maine Port Authority

The more than 25,000 miles of navigable Great Lakes, rivers, and waterways that make up America’s Marine Highway System are – and will remain – a key economic asset.

Oil Traders Say OPEC May Be Heading for Price War

Saudi Arabia's decision to slash the official selling price for its oil has sparked trader talk of an emerging OPEC price cutting war, as members of the producer

Yara Completes Acquisition of OFD Holding

Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

 
 
Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0993 sec (10 req/sec)