Teekay Tankers Ltd. Declares Dividend

Hamilton, Bermuda 7 Nov 2012

Teekay Tankers Ltd. (NYSE:TNK) today announced that its Board of Directors has voted to declare a cash dividend of $0.02 per share for the quarter ended September 30, 2012. The cash dividend is payable on November 26, 2012 to all shareholders of record on November 19, 2012.

About Teekay Tankers Ltd.
Teekay Tankers currently owns a fleet 12 double-hull Aframax tankers, 10 double-hull Suezmax tankers, three double-hull Long Range 2 (LR2) product tankers, three double-hull Medium-Range (MR) product tankers and has one time-chartered in Aframax tanker, which an affiliate of Teekay Corporation (NYSE:TK) manages through a mix of short- or medium-term fixed-rate time-charter contracts and spot tanker market trading.

The Company also owns a VLCC newbuilding through a 50 percent joint venture, which is scheduled to deliver in April 2013. Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Since inception, Teekay Tankers has distributed on a quarterly basis all of its Cash Available for Distribution, less reserves established by its board of directors.

Teekay Tankers Ltd. press release