Teekay Tankers Ltd. (NYSE:TNK) distributes the majority of its cash flow to shareholders through a full payout dividend policy and is a publicly traded subsidiary of Teekay Corporation (NYSE:TK), the world’s largest owner/operator of medium-sized crude oil tankers.
Teekay Tankers’ fleet of 14 double-hull vessels is actively managed through a mix of fixed-rate charters and spot tanker market trading, which provides investors with downside protection while maintaining some upside to the spot tanker market.
The result: A favorable risk/reward balance which allows Teekay Tankers to pay a dividend in any spot tanker market.