Teekay Corporation Declares Dividend

HAMILTON, BERMUDA, Apr 06 (MARKET WIRE) --
Teekay Corporation (Teekay) (NYSE: TK) announced that its Board of
Directors has voted to declare a cash dividend on its common stock of
$0.31625 per share, payable on April 30, 2010 to all shareholders of
record as at April 16, 2010.

About Teekay

Teekay Corporation transports more than 10 percent of the world's
seaborne oil, has built a significant presence in the liquefied natural
gas shipping sector through its publicly-listed subsidiary, Teekay LNG
Partners L.P. (NYSE: TGP), is further 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 continues to expand its conventional tanker business through its
publicly-listed subsidiary, Teekay Tankers Ltd. (NYSE: TNK). With a fleet
of over 150 vessels, offices in 16 countries and over 6,300 seagoing and
shore-based employees, Teekay 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's 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

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