Teekay Corporation Declares Dividend

HAMILTON, Bermuda, April 04, 2018 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) TK announced that its Board of Directors has declared a cash dividend on its common stock of $0.055 per share for the quarter ended March 31, 2018. The cash dividend is payable on May 16, 2018 to all shareholders of record as at May 4, 2018.

About Teekay

Teekay Corporation operates in the marine midstream space through its ownership of the general partner and a portion of the outstanding limited partner interests in Teekay LNG Partners L.P. TGP and an interest in the general partner and a portion of the outstanding limited partner interests in Teekay Offshore Partners L.P. TOO. The general partners own all of the outstanding incentive distribution rights of these entities. In addition, Teekay has a controlling ownership interest in Teekay Tankers Ltd. TNK and directly owns a fleet of vessels. The combined Teekay entities operate total assets under management of approximately $13 billion, comprised of approximately 215 liquefied gas, offshore, and conventional tanker assets. With offices in 14 countries and approximately 8,200 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world's leading oil and gas companies.

Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK".

For Investor Relations

enquiries contact:

Ryan Hamilton

Tel:  +1 (604) 609-2963

Website:  www.teekay.com