HAMILTON, BERMUDA -- (MARKET WIRE) -- 01/05/12 -- Teekay Corporation (Teekay) (NYSE: TK) announced that its Board of Directors has declared a cash dividend on its common stock of $0.31625 per share, payable on January 31, 2012 to all shareholders of record as at January 20, 2012.

About Teekay Corporation

Teekay Corporation provides a comprehensive set of marine services to the world's leading oil and gas companies, helping them seamlessly link their upstream energy production to their downstream processing operations. Teekay is growing its operations in the offshore oil production, storage and transportation sector through its publicly-listed subsidiary, Teekay Offshore Partners L.P. (NYSE: TOO), and its investment in Sevan Marine ASA (OSE: SEVAN). Teekay also continues to expand its significant presence in the liquefied natural gas shipping sector through its publicly-listed subsidiary, Teekay LNG Partners L.P. (NYSE: TGP), and seeks to grow its conventional tanker business through its publicly-listed subsidiary, Teekay Tankers Ltd. (NYSE: TNK). With a fleet of approximately 150 vessels, offices in 16 countries and approximately 6,300 seagoing and shore-based employees, Teekay transports approximately 10 percent of the world's seaborne oil and its reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company.

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

Contacts:
Teekay Corporation
Kent Alekson
Investor Relations Enquiries
+1 (604) 844-6654
www.teekay.com

Source: Teekay Corporation