Teekay Keeps Dividend Steady

The tanker operator in which it holds a controlling interest also reported its quarterly dividend today.

By Rich Duprey – Oct 4, 2013 at 10:13PM EST

Marine midstream specialist Teekay (TK 0.94%) announced today its third-quarter dividend of $0.31625 per share, the same rate it's paid since 2008. The board of directors said the dividend is payable on October 31 to holders of record on October 16.

Teekay is also the controlling owner of Teekay Tankers (TNK +0.52%), which also declared a quarterly payout of a fixed cash dividend of $0.03 per share. The tanker operator's payout is payable on October 25 to holders of record on October 16.

Teekay's regular dividend payment equates to a $1.265-per-share annual dividend, yielding 3% based on its closing price today while Teekay Tanker's regular dividend payment equates to a $0.12-per-share annual dividend, yielding 4.6% based on the tanker operator's closing price today.

TK Dividend data by YCharts.

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Teekay Keeps Dividend Steady

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