Published on 8 Nov 2023 on Simply Wall St. via Yahoo Finance
Teekay Tankers (NYSE:TNK) Could Be A Buy For Its Upcoming Dividend
Teekay Tankers Ltd. (NYSE:TNK) stock is about to trade ex-dividend in 4 days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. Meaning, you will need to purchase Teekay Tankers' shares before the 13th of November to receive the dividend, which will be paid on the 27th of November.
The company's next dividend payment will be US$0.25 per share, on the back of last year when the company paid a total of US$1.00 to shareholders. Based on the last year's worth of payments, Teekay Tankers has a trailing yield of 1.9% on the current stock price of $52.32. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether Teekay Tankers has been able to grow its dividends, or if the dividend might be cut.
See our latest analysis for Teekay Tankers