Teekay Offshore Partners Announces Common Unit Distribution Change

Jan 08, 2019

HAMILTON, Bermuda, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO, Financial), today announced that the Partnership is reducing its quarterly common unit cash distributions to zero, down from $0.01 per common unit in previous quarters, in order to reinvest additional cash in the business and further strengthen its balance sheet. There are no changes to the quarterly cash distributions relating to any of the Partnership’s outstanding preferred units, which were declared today and announced under a separate news release.

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