A Tanker Full Of Earnings
There was a boatload of earnings announcements today, so let’s quickly summarize them. 📝
We’ll keep the shipping puns goings by beginning with Teekay Tankers Ltd. The oil and gas shipping company reported adjusted earnings per share of $5.13 on adjusted revenues of $270.5 million. Its record Q1 profit allowed it to initiate a quarterly dividend of $0.25 per share. The board also declared a special dividend of $1 and approved a $100 million share repurchase program. $TNK shares rose nearly 13% on the news. 🚢