Teekay Tankers Declares Dividend

HAMILTON, BERMUDA–(Marketwired – Oct. 5, 2015) – Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) today announced that its Board of Directors has declared a cash dividend of $0.03 per share for the quarter ended September 30, 2015. The cash dividend is payable on October 30, 2015 to all shareholders of record as at October 16, 2015. About Teekay Tankers Teekay Tankers currently owns a fleet of 44 double-hull tankers, including 22 Suezmax tankers (including two acquired vessels expected to be delivered by mid-October 2015), 12 Aframax tankers, seven LR2 product tankers and three Medium-Range (MR) product tankers, and has 13 time charter-in tankers. Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading. The Company also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business and a minority interest of 9.4 percent in Tanker Investments Ltd. (OSE: TIL), which currently owns a fleet of 20 modern tankers. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK.”