The three TK sourced partnerships reported 1st quarter results today and 2 declared distributions.
Teekay Tankers TNK paid the first quarter distribution in May and reported the Q1 results today. Going into the 2nd quarter the company has 60% of the 12 ship fleet on time charter. The company provides a nice chart of the expected distribution based on spot rates for the two sizes of tankers. I expect the Q2 distribution will be near 40¢ per share.
Teekay Offshore Partners TOO and Teekay LNG Partners TGP continued their distributions at the same rate as Q1. Cash flow in the 1st quarter was well above the amounts necessary to cover the distribution.
TK partnerships report results
The three TK sourced partnerships reported 1st quarter results today and 2 declared distributions.
Teekay Tankers TNK paid the first quarter distribution in May and reported the Q1 results today. Going into the 2nd quarter the company has 60% of the 12 ship fleet on time charter. The company provides a nice chart of the expected distribution based on spot rates for the two sizes of tankers. I expect the Q2 distribution will be near 40¢ per share.
Teekay Offshore Partners TOO and Teekay LNG Partners TGP continued their distributions at the same rate as Q1. Cash flow in the 1st quarter was well above the amounts necessary to cover the distribution.