Teekay Boosts Quarterly Dividend 15 Percent
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.