HAMILTON, BERMUDA–(Marketwired – June 30, 2015) – Teekay Corporation (NYSE:TK) – Highlights:
- Completing dropdown sale of the Knarr FPSO to Teekay Offshore on July 1, 2015 for approximately $1.26 billion.
- Agreed to invest $300 million in common units of Teekay Offshore.
- Results in a reduction in Teekay Parent’s net debt by approximately $1 billion.
- Increased quarterly cash dividend by 75 percent to $0.55 per share, from $0.31625 per share.
- Targeting 15 to 20 percent annual dividend growth over the next three years.
Teekay Corporation Investor Relations Enquiries Ryan Hamilton +1 (604) 844-6654 www.teekay.com