If one has read the Teekay Tankers (TNK) report, nothing really new here. Teekay Corp (TK) is the parent entity to TNK, and now just reports via TNK. The major difference this quarter is the special dividend of $1- which TK will pay to its shareholders. Given that TK trades for a fraction of TNK’s price, for Q1 2025, a TK shareholder will pick up a greater yield.
Teekay (TK) used to have a separate business managing assets for the Australian government. That entity transferred over to TNK for cash [Edit: TK pays the special div in July 2025. That’s probably later than when TNK pays its special div]