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Conventional Oil Tanker News

09 Jul 2013

Teekay Tankers Declare Dividend

Tankship Ganges Spirit: Photo courtesy of Teekay Tankers

Teekay Tankers Ltd. Board of Directors  has voted to declare a fixed cash dividend of $0.03 per share for the quarter ended June 30, 2013. The cash dividend is payable on July 31, 2013 to all shareholders of record on July 19, 2013. Teekay Tankers currently owns a fleet of 31 double-hull vessels, including 11 Aframax tankers, 10 Suezmax tankers, seven Long Range 2 (LR2) product tankers (including four committed newbuildings), three Medium-Range (MR) product tankers and has two time-chartered in Aframax tankers…

08 Feb 2012

Teekay to Offer 15m Shares

Teekay Tankers Ltd. (NYSE:TNK) announced today that it plans to offer 15,000,000 shares of Class A common stock of the Company in a public offering. Teekay Tankers expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Class A common stock to cover any over-allotments. The Company expects to use the net offering proceeds to repay a portion of its outstanding debt under its revolving credit facility. Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers currently owns a fleet of nine double-hull Aframax tankers and six double-hull Suezmax tankers and time-charters in two double-hull Aframax tankers from third parties…

08 Apr 2010

Teekay Tankers Prices Public Offering

Teekay Tankers Ltd. (NYSE: TNK) announced that it has priced its follow-on public offering of 7,700,000 shares of Class A common stock at $12.25 per share. The offering is expected to close on April 9, 2010, subject to customary closing conditions. Teekay Tankers has granted the underwriters a 30-day option to purchase up to an additional 1,155,000 shares to cover any over-allotments. The number of shares offered in this offering was increased from 7,000,000 shares to 7,700,000 shares (the over-allotment option was increased from 1,050,000 shares to 1,155,000 shares). The company expects to use the net offering proceeds - together with a concurrent issuance to Teekay Corporation (NYSE: TK) of 2…