Teekay Tankers reported its results for the first quarter of 2025 and declared both a fixed and a special cash dividend.

Teekay Tankers reported a GAAP net income of $82.1 million for the fourth quarter of 2024, or $2.38 per share, primarily driven by a $27.9 million gain from the sale of two vessels. Adjusted net income for the quarter was $51.8 million, or $1.50 per share, a decrease from the previous quarter due to lower average spot tanker rates. For the full fiscal year 2024, GAAP net income was $403.7 million, or $11.73 per share, and adjusted net income was $354.7 million, or $10.31 per share. The company completed the acquisition of Teekay's Australian operations and management services companies, consolidating all shore-based employees and seafarers onto one platform. A cash dividend of $0.25 per share was declared for the quarter.