Press Releases May 13, 2026 04:05 PM

Teekay Corporation Ltd. First Quarter 2026 Update; and Declares a Special Dividend

Teekay Corporation Reports Q1 2026 Update and Declares $1.00 Special Dividend

By Derek Hwang
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Teekay Corporation Ltd. released its first quarter 2026 update and announced a special cash dividend of $1.00 per common share payable on June 2, 2026. The company operates in international crude oil marine transportation and related marine services with a fleet of mid-sized tankers and provides ship-to-ship transfer services.

Teekay Corporation Ltd. First Quarter 2026 Update; and Declares a Special Dividend
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Key Points

  • Declared a special cash dividend of $1.00 per share payable in June 2026, signaling strong financial health and shareholder returns.
  • Teekay operates a fleet of 33 double-hull crude oil tankers and provides marine services including ship-to-ship transfers and lightering in key regions such as the U.S. Gulf and Caribbean.
  • The company supports operations for the Australian government and energy companies, reflecting a diversified customer base in the marine transportation sector.

HAMILTON, Bermuda, May 13, 2026 (GLOBE NEWSWIRE) -- Teekay Corporation Ltd. (Teekay or the Company) (NYSE:TK) today reported an update for the three months ended March 31, 2026. The update and Teekay Group’s earnings presentation are available on the Company’s website here.

In addition, the Company’s Board of Directors declared a special cash dividend in the amount of $1.00 per outstanding common share. This dividend is payable on June 2, 2026 to all Teekay shareholders of record on May 26, 2026.

About Teekay

Teekay is a leading provider of international crude oil marine transportation and marine services. Teekay provides these services through its controlling ownership interest in Teekay Tankers, a leading owner and operator of mid-sized crude tankers. Teekay Tankers has a fleet of 33 double-hull tankers (including 14 Suezmax tankers and 18 Aframax / LR2 tankers, and 1 VLCC) and has three time chartered-in tankers. In addition, Teekay Tankers manages and operates vessels for the Australian government and Australian energy companies as part of the marine services provided by Teekay Tankers and owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the U.S. Gulf and Caribbean.

Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.

For Investor Relations
enquiries contact:

E-mail: investor.relations@teekay.com
Website: www.teekay.com


Risks

  • Fluctuations in global crude oil demand and shipping rates could impact Teekay’s revenue and profitability.
  • Operational risks related to marine transportation such as accidents, regulatory changes, or geopolitical tensions may affect fleet utilization and costs.
  • Dependence on charter agreements and relationships with governments and energy companies introduces risks if contracts are altered, not renewed, or if service demand declines.

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