Teekay Offshore Keeps Distribution Steady

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International marine transportation, oil production, and storage services provider Teekay Offshore announced yesterday its third-quarter distribution of $0.5253 per unit, the same rate it's paid for the past two quarters after raising the payout 2.5% from $0.5125 per share.

The board of directors said the quarterly dividend is payable on Nov. 8 to the holders of record at the close of business on Oct. 23. The regular dividend payment equates to a $2.10-per-share annual distribution, yielding 6.3% based on the closing price Friday of Teekay Offshore's stock.

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The article Teekay Offshore Keeps Distribution Steady originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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